USD/JPY jumps above 108.00, fresh 6-year highs

FXStreet (Córdoba) - As Greenback soars across the board, USD/JPY rises further above 108.00. The pair printed a fresh 6-year high at 108.38 and remains near the highs, headed toward the highest close since September 2, 2008.

Since the FOMC statement USD/JPY has risen more than 50 pips, taking the daily gain above a hundred pips. Despite the fact that technical indicators showed overbought readings in the short term, momentum still favors the US dollar.

According to Jamie Coleman, from FXBeat, if the USD/JPY keeps rising, the next barrier is located around 108.50. To the downside, support levels might now lie at 107.90 and below here at 107.65.