- AUD/JPY was traded in the 93.70 area and recorded the third light loss days in a row.
- Despite the negative line, the couple continues to keep on the 20 -day SMA, which suggests that the negative party may be limited.
- Momentum indicators remain soft; Macd shows flat green rods and RSI remains in the negative area.
AUD/JPY was slightly lower in Friday’s session and traded in the 93.70 area. Although the couple was above a significant level of support, three straight sessions have issued a slight decrease. While the bulls try to defend the simple 20 -day simple moving average, the price action shows a little hesitation from the sellers by pointing to a potential pause at downward pressure.
The relative force index (RSI) is currently positioned in the negative region, which is slightly decreasing that reflects the limited decrease momentum, close to the mid -40s. In the meantime, the moving average convergence deviation (MACD) remains in the positive area, but the histogram shows flat green rods and indicates a strong -sided lack of conviction.
From a trend perspective, which is currently on the 20 -day SMA, located near the 93.50 region, it makes it possible to remain sloping in the opposite of the short -term appearance. A breaking below this level can shift the emotion and open the door to 93.00 and even 92.50 area. On the Flip side, the resistance is around 94.20, then the psychological 95.00 sign.
AUD/JPY DAILY GRAPHIC
