• The AUD/JPY is trading down at 97.73 with losses in Tuesday’s session.
• Despite operating above the main SMAs, indicating long-term bullish sentiment, the short-term scenario is dominated by selling pressure.
• The daily RSI remaining pointing down, and MACD depicting an increase in red bars both signal growing selling momentum.

For Tuesday's session, AUD/JPY is exchanging hands at a level of 97.73, recording a minor decline of 0.19%. Despite the selling exertion evident on the daily chart, there appears to be a broader remains bullish as the pair continues trading above its main Simple Moving Averages (SMAs).

On the daily chart, the Relative Strength Index (RSI) for AUD/JPY remains in negative territory, while, the Moving Average Convergence Divergence (MACD) histogram is rising with red bars, indicating an increase in negative momentum.

AUD/JPY daily chart

Turning to the hourly chart, the RSI dipped into oversold territory earlier in the session, suggesting a strong bearish outlook very short term, and now the index recovered near its midline point suggesting that sellers are taking a breather. This view is corroborated by the rising green bars of the MACD.

AUD/JPY hourly chart

Overall, the AUD/JPY pair seems to be under selling pressure in the short term despite the broader bullish context suggested by its position above the 100 and 200-day SMAs. For the rest of the session, the pair may continue correcting oversold conditions hit earlier in the session.