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USD/JPY: Is there a top?

FXStreet (Córdoba) - Though slowly, the dollar continues to advance against the yen and prints higher-highs on session basis, having recently broken above the 107.00 mark.

USD/JPY is extending gains into a fourth day Thursday and printed a fresh 6-year high of 107.14 as the dollar remains buoyed by prospects the Fed will make a hawkish shift in the upcoming Sept 17 meeting. Most analyst agree Fed’s forward guidance, that interest rates will remain low for a considerable time, is expected to be changed.

At time of writing, USD/JPY is trading at 107.10, recording a 0.16% gain on the day. US initial jobless claims data is scheduled for 12:30 GMT, which could offer another boost to the greenback if they came below the 300K of consensus.

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