The Australian Dollar has surged by 1.35% against the Japanese Yen since May 24. The currency pair tested the upper boundary of a descending channel pattern at 85.18 on June 2.
Technical indicators suggest buying signals on the 4H, daily, and weekly time-frame charts. Most likely, the exchange rate could continue to edge higher during the following trading sessions.
However, the upper line of the channel pattern could provide resistance for the AUD/JPY currency exchange rate in the shorter term.
