OctaFX | OctaFX Forex Broker
Open trading account
Back

USD/JPY breaks above 103.00

FXstreet.com (Córdoba) - Following a phase of consolidation, dollar's bulls finally gathered enough momentum to send USD/JPY above the 103.00 mark on Friday, underpinned by better-than-expected US confidence data.

USD/JPY broke above the 102.75 level and rallied to a fresh high of 103.11, last seen Oct 7 2008. At time of writing, USD/JPY is trading around 103.00, where it posts a 0.8% daily gain.

On the upside, next resistance levels could be found at 103.27 (high Oct 7 2008) and 103.50 (low Sep 30 2008). On the downside, supports might be faced at 102.05 (daily low) and 101.80 (low May 16).

Flash: Bearish yen trend has propensity to continue – UBS

Given the market is still struggling to digest the existing easing program, many investors have wondered how could the BoJ hope to ease further if inflation remains elusive.
Read more Previous

Troika releases upbeat report on Greece

The European Commission and the International Monetary Fund released a report on Friday, in which they assure that Greece's austerity efforts are bringing fruit and that the country's economy should start expanding again next year.
Read more Next
Start livechat