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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).

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