USD/JPY at multi-year highs, approaches 106.00

FXStreet (Córdoba) - The yen is falling sharply during the American session pushing USD/JPY to the upside. The pair recently reached at 105.92 the highest price since October 2008 and remains near the highs, eyeing 106.00.

During the latest two hours USD/JPY rose almost 60 pips, breaking in the rally previous highs that lie at 105.70.

Jamie Coleman from FXBeat, notes that traders could expect some small-scale protection of 106.00 barriers. To the downside, immediate support might lie at 105.70 and below here at 105.20 and 104.95 (daily low).