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AUD/JPY Price Analysis: Aussie retreats to the 70.00 level vs. Japanese yen

  • AUD/JPY is retreating after hitting 2.5-month highs earlier in the week. 
  • Support can be seen near the 70.00 and 69.00 figures.  

AUD/JPY four-hour chart

AUD/JPY is retreating after hitting 2.5-month highs this week. The market is challenging the 70.00 support level while trading above the main SMAs. A break below this level can lead to further losses aiming the 0.6900 level. On the other hand, next week bulls may retry to gain the 71.00 figure en route towards fresh May’s highs. 

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