In Monday's session, the AUD/JPY pair managed to acquire supplementary momentum and saw some gains.
Daily chart indicators depict a steady buying traction with RSI deep in positive area , but nearing overbought conditions. On the hourly chart indicators are beginning to flatten, which suggests the cross may face some losses ahead of the Asian session. Given the heightened momentum, the stage could be set for a shift in market dominance, suggesting a potential correction on the horizon. In Monday's session, the AUD/JPY pair managed to acquire supplementary momentum and saw some gains.
AUD/JPY daily chart The hourly RSI values reveal a similar positive trend, with values hovering around the 60 mark but pointing downwards. This is backed by the MACD which prints decreasing green bars. AUD/JPY hourly chart In the broader context, the AUD/JPY is trading above all three key Simple Moving Average benchmarks of 20, 100, and 200 days and this alignment suggests a strong bullish outlook for the pair.
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