The Australian Dollar has surged by 1.31% against the Japanese Yen since January 28. The currency pair breached the 50– and 100– hour SMAs during this week’s trading sessions.
All things being equal, the exchange rate could continue to edge higher during the following trading sessions. The possible target for bullish traders would be near the 81.00 level.
However, the weekly R1 at 80.67 could provide resistance for the AUD/JPY currency exchange rate in the shorter term.
