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Forex pairs in this Article » EUR/USD, USD/JPY
FXstreet.com (Barcelona) - As has been the norm ever since the Yen crosses stare at a broken triangle pattern from the rear mirror, further downside dynamism was injected into the Japanese currency for the most part of the Asian session, yet losses were erased after Tokyo came back from lunch and started a take profits/selling-induced move in mass ahead of the weekend.

The Tokyo fix led USD/JPY to print a new high of 102.61, breaking above the key 102.50, a level that has been perceived as opening the doors towards 2013 highs at 103.65. The USD stayed bid post Fix only giving up on Nikkei's -1% post-lunch slide.

According to Peter Fell, Editor at FXBeat: "The 103.00 barrier is said to be 'huge" , defence is likely to be scaled up and should provide a tougher hurdle to overcome, than barriers seen lately."

AUD/USD showed, again, a poor performance, although managed to hold its ground ahead of 0.9050, where optionality-related bids were thought to keep the rate afloat, later recovering as the Yen strengthened. News that the Australian government rejected the takeover of GrainCorp by ADM initially weighed on the Aussie, only to get worse when ADM announced it will not appeal to the decision. There is a talk of stops under 0.9045.

Meanwhile, both EUR/USD and GBP/USD gunned through new highs, with the highest print at 1.3620 and 1.6375 respectively, as short term spec accounts and leveraged found little challenge to keep the bid tone alive.

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