• AUD/JPY got propelled near 105.00 on Tuesday, driven by the Reserve Bank of Australia RBA's hawkish hold.
• Tusaday's move confirms a positive short-term outlook.
• Fundamentals may have driven the pair out of the consolidation phase seen in the last sessions.

In Tuesday's session, the AUD/JPY pair received a boost following the Reserve Bank of Australia (RBA)'s hawkish hold, with the momentum propelling the pair towards the 105.00 level. In the last sessions, price action saw a consolidation above the 104.00 level, which supported the pair now to retest cycle highs.

On the daily scale, the Relative Strength Index (RSI) stands at 62, indicating rising buying pressure and shifting into bullish territory. However, it is important to observe that the Moving Average Convergence Divergence (MACD) line is below the signal line, hinting that there is still bearish activity. Traders will need to keep an eye on a possible crossover in the upcoming sessions to confirm the continuation of Tuesday's bullish movements.