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USD/JPY closes the week above 103.00 at highest since August 2008

FXstreet.com (San Francisco) - The USD/JPY extended its advanced in the late American session with the pair conquering the 103.00 level and beyond.

The Dollar jumped around 40 pips against the Yen in the Friday's latest hours from 102.90 to reach the highest level since August 2008 at 103.30. Currently the USD/JPY prices at 103.20, 0.92% positive on the day. The perspective remains slightly bullish according to the FXstreet.com trend index in the 1-hour chart. Indicators such as MACD, CCI and Momentum are pointing to the north while the Stochastic is bearish.

Next resistance is at 103.50 (low Sep.30 2008) followed by 103.54 (low Sep.16 2008) and then 105.40 (high Oct.6 2008). On the downside, a breach of 102.68 (high May 16) would expose 102.08 (low May 17) and finally 101.83 (low May 16).

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