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AUD/JPY Price Analysis: Aussie surging to its highest since late February vs. Japanese yen

FX Street
Updated:
  • AUD/JPY is trading in 12-week highs as the bullish sentiment in Wall Street is gaining steam.
  • The level to beat for bulls is the 71.75 resistance.
 

AUD/JPY four-hour chart

 
AUD/JPY is trading off 3-month highs in the first half of the trading week. The market broke sharply above the 71.00 figure. As the upward momentum stays intact the market will be looking for a continuation above the 71.75 resistance and 72.50/88. On the other hand, support is seen near the 71.10 and 70.15 levels initially. 
 

Additional key levels

 

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