USD/JPY breaks above 103.25 barrier

FXstreet.com (Bali) - With the ease that only a strong bullish momentum can deliver, such as in the Yen crosses at present, USD/JPY has bursts through 103.25 barrier to set a new trend high at 103.35 en route to test next option barrier at 103.50.

USD/JPY has transitioned from 102.83 - session low - to snap a new trend high, as the Nikkei expands gains above the critical resistance 15,700, currently at 15,760 (up 0.7%), and dragging the Yen crosses higher as a result.

Technically, traders should expect area 103/103.10 to provide support on dips while 103.50 up to 103.70 (year high) should see a decent cluster of offers challenging the ebullient bullish momentum.