AUD/JPY Price Analysis: Buyers hold sway with hints of increasing sell-off, cross still in multi-year highs

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  • The AUD/JPY is trading at 98.71, showing a slight gain during the Friday session still in highs since 2015.
  • Daily RSI for the AUD/JPY suggests bullish momentum with a slight increase in the positive area.
  • Divergences are observed between the hourly and daily charts where the latter signals buyers' dominance whilst the hourly chart indicates rising short-term selling pressure.

In Friday's session, the AUD/JPY pair is trading at 98.715, reflecting a slight increase in buying pressure. The daily chart signals that the buyers are in control but that bears are starting to wake up, while in the hourly chart, the consolidation is more evident with indicators losing ground.

On the daily chart, the Relative Strength Index (RSI) pair shows a positive stance, signifying the dominance of buyers. This can be inferred from RSI territory, which consistently remains positive, despite a marginal downtrend observed within the positive territory. This suggests a slight increase in selling pressure, however, buyers continue to hold dominance given the RSI's positive territory position.

Concurrent with this, the daily Moving Average Convergence Divergence (MACD) is exhibiting flat green bars. This indicates that the momentum of the market is neutral on the surface, yet further scrutiny reveals that buyers hold the upper hand as the pair lingers above the 20, 100, and 200-day Simple Moving Averages (SMAs).

AUD/JPY daily chart

Upon examining the hourly chart, the RSI's position has diverted into negative territory while the MACD presents rising red bars suggesting a surge in selling pressure in the short term, contrasting the positive bias observed in the daily chart.

 

AUD/JPY hourly chart

Conclusively, despite a short-term rise in selling pressure observed in the hourly chart, the longer-term daily chart suggests that buyers continue to control the market, fortified by the pair's position above the 20, 100, and 200-day SMAs.

 

AUD/JPY

Overview
Today last price 98.74
Today Daily Change 0.07
Today Daily Change % 0.07
Today daily open 98.67
 
Trends
Daily SMA20 97.38
Daily SMA50 97.06
Daily SMA100 96.68
Daily SMA200 95.54
 
Levels
Previous Daily High 99.02
Previous Daily Low 98.32
Previous Weekly High 98.26
Previous Weekly Low 97.07
Previous Monthly High 97.88
Previous Monthly Low 95.84
Daily Fibonacci 38.2% 98.76
Daily Fibonacci 61.8% 98.59
Daily Pivot Point S1 98.32
Daily Pivot Point S2 97.97
Daily Pivot Point S3 97.62
Daily Pivot Point R1 99.02
Daily Pivot Point R2 99.37
Daily Pivot Point R3 99.72

 

 

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