In Wednesday's session, the AUD/JPY pair is trading at 99.58, following an increase of 0.82%.
The daily chart presents a strong buying momentum with indicators deep in positive territory. On the hourly chart, the RSI resides in the overbought zone, suggesting a short-term consolidation of the recent gains. In Wednesday's session, the AUD/JPY pair is trading at 99.58, following an increase of 0.82%. Buyers appear in control, but indicators are flashing signals of a short-term consolidation. On the daily chart, the AUD/JPY pair reveals a bullish sentiment.
AUD/JPY hourly chart Considering the broader outlook, the pair also stands above the 20,100 and 200-day Simple Moving Averages . This setup suggests short-term and long-term trends are bullish, and traders may expect further upside. In conclusion, both daily and hourly charts for the AUD/JPY pair highlight a bullish outlook. The RSI values and the MACD histograms across both timelines point to strong upward movement, with buyers currently holding market reins.
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