Australian Dollar began appreciating against the Japanese Yen mid-August when it reversed from the lower boundary of a junior ascending channel at 79.70. The rate reached a three-week high on Friday.
The Aussie is currency testing the weekly and the monthly pivot points near 81.26. If this support cluster remains intact during the following trading sessions, it is likely that the pair continues appreciating towards the upper boundary of a downtrend line.
Given that the 55-, 100-, and 200-hour simple moving averages are below the price, it is likely that the bullish momentum continues during the following hours.
