AUD/JPY is currently experiencing a decline, trading at 97.49. Despite short-term bearish pressure, oversold conditions on the hourly chart suggest a potential short-term rebound.

Mixed Signals:

Daily Chart: RSI and MACD signal strong selling momentum, indicating continued bearish bias.
Hourly Chart: Oversold RSI and MACD suggest a possible short-term bounce to alleviate pressure.
Long-Term Bullish Outlook: AUD/JPY remains above key SMAs, indicating a broader bullish sentiment.
Key Takeaways:

Short-term Bearish with Rebound Potential: Current downtrend might be followed by a temporary upward correction due to oversold conditions.
Overall Bullish: Long-term technicals still favor bulls, potentially limiting the extent of the current decline.