Always on viability/configuration for very specific purpose
The only possible concern in your setup is the Availability Mode and Failover option. If your virtual machines are in the same datacenter or relatively close geographically with a good connection between them you should look into using Synchronous-commit mode and Automatic Failover for the best recovery scenario with no data loss and minimal downtime, especially if it fails during a time it may be difficult to get someone to manually fail it over. 

If they are they significantly geographically apart and connectivity isn't reliably 'good' then your setup is fine unless data loss is considered catastrophic. The Asynchronous route is primarily for use when performance is sporadic or far from guaranteed.

While specifying the connection has some value, it may be overkill in such a setting if for some reason your reporting application loses connectivity to the Secondary Replica. There is no reason it couldn't report off the Primary Replica aside from any possible performance concerns, but that may be a valid enough reason to insure the Primary denies the connection.