AUD/JPY Price Analysis: Aussie pressuring monthly highs vs. yen, bullish

• AUD/JPY is trading close to 12-week highs as the risk-on sentiment in Wall Street remains intact.
• The level to beat for bulls is the 71.75 resistance.

AUD/JPY four-hour chart

 
AUD/JPY is making higher highs and lows as the bullish sentiment stays intact. The quote is about to challenge the 71.75 level as the risk-on mood in Wall Street remains present. To the upside, the next resistance can emerge near the 72.50/88 price zone. On the flip side, a convincing break below the 71.10 level could lead to further selling in the medium-term with supports awaiting near 70.15 and 69.60 levels.  
 

Additional key levels

AUD/JPY