The Australian Dollar has surged by 269 points or 3.63% against the Japanese Yen since the past two weeks. The currency pair hit a one-month high level at 76.63 during yesterday’s trading session.
Technical indicators suggest buying signals on all time-frames. Most likely, bullish traders will continue to drive the exchange rate higher during the following trading sessions.
However, the monthly resistance level at 76.93 could provide resistance for the currency exchange rate in the short-term.