Upside risks have been dominating the Australian Dollar versus the Japanese Yen since the beginning of October. The currency pair appreciated about 2.74% in value during last week’s trading sessions.
A breakout had occurred through the upper boundary of a descending channel pattern. From a technical aspect, the exchange rate will most likely continue its bullish momentum within the following trading sessions. The potential target will be at the 76.00 area.
Furthermore, technical indicators flash buy signals on the 4(H) and the daily time-frame charts.
