The Australian Dollar has declined by 112 pips or 1.31% against the Japanese Yen since this week’s trading session. The currency pair breached the 50– period SMA on May 13.
Technical indicators suggest selling signals on the 4H time-frame chart. Most likely, the exchange rate could continue to edge lower during the following trading session.
However, a support line at 84.50 could provide support for the AUD/JPY currency exchange rate in the shorter term.
