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USD/JPY overshoots 115.00, sky the limit?

FXStreet (Bali) - USD/JPY has clearly broken above the 115.00 handle, posting a new 7-year high at 115.25 as Yen selling hysteria reaches illogical states.

The parabolic move seen since BoJ QQE2/GPIF assets re-allocation is having an impact few analysts could have predicted. Prove of that, is that calls for year-end target of 115.00 made by banking institutions such as Nomura, SocGen or JP Morgan are being met 2 months in advance; expect more ambitious targets to be called in the following days as USD/JPY keeps on rising uncontrollably.

On the latest spike higher in all Yen crosses, EUR/JPY has also broken a key level at 143.50 - double top March April 2014 - reaching its highest at 143.97. As mentioned recently, technicals continue to be thrown out of the window, as fears of missing the short Yen trade outweighs any other factor.

USD/JPY bulls sneaking in an attack at key 115.00

USD/JPY is trading at 114.92, up 0.15% on the day, having posted a daily high at 114.99 and low at 114.58.
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