• AUD/JPY persists downwards, dropping to 104.30, marking the lowest level since June 18.
• The negative short-term outlook remains steady as the pair tallied seven losing days out of the last eight.

In Monday's trading, the AUD/JPY pair has continued its downward trend, declining by more than 0.90% to touch 104.30. This substantiates the dominance of the bears and magnifies the prevailing negative short-term outlook as the pair reaches new lows.

The daily Relative Strength Index (RSI) currently stands at 35, falling even further below Friday’s reading of 42, indicating the strengthening of the negative momentum. The same trend is implied by the Moving Average Convergence Divergence (MACD) which continues to print rising red bars, suggesting a resumption of the selling activity, despite any minor rebounds.