The Australian Dollar is trading in a narrow ascending channel pattern against the Japanese Yen.
Currently, the currency pair is stranded between SMAs. The 200-hour simple moving average is providing resistance for the rate at 79.25, while the 50– and 100-hour SMAs are providing support at 77.57.
Technical indicators suggest that the currency exchange rate could continue its movement in the narrow ascending channel within this session.
Although, the AUD/JPY exchange rate could reverse from the current price level and aim for the weekly S3 at 76.23.
