In Monday's trading session, the AUD/JPY pair noted a further decline of 0.15% to fall to 106.90.
AUD/JPY slips towards 106.90, breaching the 20-day SMA support. A bearish sentiment is projected for the next few session, continuing the downtrend from last week. In Monday's trading session, the AUD/JPY pair noted a further decline of 0.15% to fall to 106.90. This continues the observable trend from last week Thursday's session which saw a significant drop from above 109.00.
The daily Relative Strength Index for the AUD/JPY pair currently reads 53, showing a marginal plunge from last week’s high of 80, slowly pushing toward the bearish zone. Despite this shift, the market seems to retain its neutral stance as it remains in positive territory. Complementing this, the daily Moving Average Convergence Divergence shows rising red bars, indicating potential weakness.
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