Forex: USD/JPY advances to fresh multi-year highs

FXstreet.com (San Francisco) - The USDJPY rose around 50 pips in the last couple of hours from 89.90 to break previous high at 90.10 and reach fresh highs since June 2010 around 90.55. The USDJPY is currently trading at 90.40, 2.05% above opening price action.

According to the FXstreet.com FXStudies, the MACD, CCI and Momentum are pointing bullish in the 1-hour chart, while the RSI and the Stochastics are lower.

The yen weakened on Thursday and retraced weekly gains versus the dollar after renewed comments for a weaker currency by Japanese government officials.