The Australian Dollar has continued to trade in a junior ascending channel pattern against the Japanese Yen. Meanwhile, the 50– and 100-hour SMAs has helped the currency pair to breached the upper boundary of a dominant descending channel.
It is likely that the exchange rate will continue moving higher during the following trading sessions. The potential upside target for the currency exchange rate will be near the weekly R3 at 80.50.
However, technical indicators on the weekly time-frame chart demonstrate that there could be a fall in price within the coming days.
