Techniques are provided for managing the utilization of shared memory resources among a plurality of asynchronous replication workloads. A data replication system maintains a respective replication journal for each replication workload in an allocated portion of system memory of a source server node. Each replication journal is divided into journal barrier intervals by respective individual barriers for transmission to a destination server node. The data replication system waits for a triggering event to occur for generating a common barrier, wherein the triggering event is configured to prevent exhaustion of the allocated portion of system memory for storing the replication journals. The common barrier is generated to close the replication journals of some or all of the replication workloads in advance of the respective individual barriers associated, and the replication journals closed by the common barrier are transmitted to the destination server node.