The Australian dollar has suffered recently against some of its counterparts most notably the US dollar and the Japanese yen. Against the Japanese yen, the price has fallen from 78.46 to 77.37 today. It could have been worst too as the price traded as low as 76.77 but found some support on the red horizontal line in the chart below.
The Relative Strength Index has produced a bullish signal. The price waves have been making higher lows but the indicator made a lower low wave and even reached the oversold area. This is called a bullish failure swing and can sometimes lead to a trend continuation.