The Australian Dollar has surged by 266 pips or 3.34% against the Japanese Yen since the beginning of February. The currency pair breached the 82.00 level this week.
As for the near future, the AUD/JPY exchange rate could continue to edge higher. Bullish traders are likely to target the 84.00 level during the following trading sessions.
However, the weekly R3 at 82.55 could provide resistance for the currency exchange rate during this week’s trading sessions.