During the past week, the Australian Dollar has depreciated about 1.04% in value against the Japanese Yen. A breakout occurred through the lower boundary of an ascending channel pattern on July 23.
Given that a breakout had occurred, it is likely that the currency exchange rate will edge lower during the following trading sessions. The potential target will be near the monthly S1 at 74.47.
Furthermore, technical indicators demonstrate that a decline is imminent during the coming days.
