The most recent data for the exchange rate between US dollars $($USD$)$ and Japanese Yen $($JPY$)$ shows that $1$ USD is approximately $155\mathrm{.}4$ JPY$.$ Draw a graph for the demand and supply of the US dollar in terms of the Japanese Yen in the foreign exchange market. Label all relevant curves and axis.

Now assume that there is a decrease in the demand for US dollars in the foreign exchange market. Show the impact of this on the graph you have drawn and explain in words how the value of the US dollar has changed. Has the currency appreciated or depreciated?

$[3$ marks$]$