The Australian Dollar has declined by 1.99% against the Japanese Yen since this week trading sessions. The 50– period simple moving average provided resistance for the currency pair this week.
As for the near future, the AUD/JPY currency exchange rate is likely to continue to edge lower. Bearish traders could target the 71.00 level during the following trading sessions.
However, a support cluster at the 73.54 area could provide a barrier for bears within this week trading sessions.
