AUD/JPY 4H: Pullback at a Key Confluence!Australian Dollar vs Japanese YenCFI:AUDJPYCFIAUD/JPY continues to trade within a well-defined ascending channel, with a series of higher highs and higher lows supporting the recovery from late June. Price remains above the channel's rising support trendline, suggesting that the broader recovery structure is still intact. Recent Rejection From the Channel High After rallying toward the 113.80–114.00 area, the pair encountered resistance near the upper boundary of the channel before rotating lower. The recent price action reflects a pullback from the latest highs rather than a confirmed change in the prevailing trend. Support Confluence Emerges Near 113.00 The current retracement has brought price back toward the 113.00 area, where several technical factors converge: The channel midpoint and rising trendline. The highlighted horizontal support zone. The nearby 200-period moving average (112.72). This combination creates a technically significant area that market participants are likely to monitor closely. 200-Period Moving Average Remains in Focus The 200-period moving average is positioned just below the current market price and has recently been reclaimed. Its proximity to the support area reinforces the technical importance of this zone. RSI Returns to Neutral Territory The Relative Strength Index (RSI) recently moved above the 70 level, reflecting strong bullish momentum during the previous advance. However, the latest pullback has pushed the RSI back toward 52, suggesting that momentum has moderated and returned to more neutral levels.