In Tuesday's session, the AUD/JPY pair recorded a slight decline to 106.70, following up on the gradual declining trend from last week.
AUD/JPY eases to 106.80, still under the 20-day SMA support. Downward trajectory continues, yet with a slackening pace as the bearish sentiment seems to be decelerating. As bears lose steam the pair might side-ways trade in the next sessions. In Tuesday's session, the AUD/JPY pair recorded a slight decline to 106.70, following up on the gradual declining trend from last week.
The daily Relative Strength Index for the AUD/JPY pair now stands at 51 while the daily Moving Average Convergence Divergence prints flat red bars, implying that the selling activity is easing. AUD/JPY daily chart Taking a wider view, the AUD/JPY pair seems to maintain a bearish tendency, further accentuated by its position below the 20-day Simple Moving Average support. Should the downward movement proceed, the immediate support levels at 106.50 and 106.00 remain the critical markers to watch.
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