FXstreet.com (San Francisco) - The Australian dollar is gaining on its Japanese counterpart this Wednesday, with AUD/JPY having traded up around 40 pips into the 81.50 area to record fresh 3-day highs. The move comes as risk-on Asian bourses lift sentiment, as better than expected Australian consumer confidence and housing start data support AUD, and as iron ore price have jumped from $87 to back above $100 in less than a week. At the time of writing, AUD/JPY is quoted at session highs, last at 81.53. A key Fibonacci retracement level at 81.60 (50%, 83.56/79.65) may limit further rallies in the short-term, and the 200-day EMA (81.66) may also attract offers. Daily RSI is hovering in neutral territory around its midline, last valued at 50, which leaves room for an upward continuation.