AUD/JPY Price Analysis: Pair holds below 94.00 as bearish bias lingers despite mild recovery

• AUD/JPY trades near the 93.90 zone after modest gains ahead of the Asian session.
• Bearish pressure persists as key moving averages flash sell despite neutral oscillators and a buy signal from MACD.
• Resistance stands near 93.90-94.00 while technical indicators show no immediate signs of oversold conditions.

The AUD/JPY pair is showing mild intraday movement during Tuesday's session, trading just under the 94.00 mark ahead of the Asian opening. Despite a slight daily gain, the broader setup remains bearish, as price continues to hover in the lower half of the recent range between 93.15 and 94.01. Momentum remains limited amid mixed signals from key technical indicators.

Daily chart

The Moving Average Convergence Divergence (MACD) prints a mild buy signal, hinting at some underlying support. However, the Relative Strength Index (RSI 14) remains neutral at 44.95, while the Ultimate Oscillator sits at 56.12--suggesting a lack of clear directional momentum. These readings point to indecision in the short term.

On the trend front, most moving averages paint a bearish picture. The 10-day Exponential Moving Average (EMA) at 94.20 and the 10-day Simple Moving Average (SMA) at 94.29 both favor selling. The 20-day SMA at 94.03 joins the 100-day at 96.70 and 200-day at 98.57 in reinforcing downside risks. The neutral Ichimoku Base Line further confirms that the pair lacks clear conviction for a reversal.

Looking at levels, resistance is stacked around 93.79, 93.91, and 94.02. If bullish momentum gains traction, a breakout above these areas may open the door for further recovery. On the downside, failure to hold above the 93.15-93.30 band could expose the pair to deeper losses, especially if sellers gain strength and the RSI slips toward oversold territory.

Overall, while intraday momentum looks mildly constructive, the dominant bearish tone keeps rallies in check unless sustained buying clears overhead resistance levels with volume.