Tuesday, March 16, 2010

Improved risk appetite hurts the Yen



Improved risk appetite hurts the Yen

(Barcelona) - The Japanese Yen has been the biggest loser of Tuesday's European session, with risk appetite improving and European markets going through gains, the Yen has lost most of the ground taken on Monday dropping considerably against Dollar Euro and Pound.

USD/JPY decline from 9108 high on Friday, has found support at 89.95 on early European session and the pair has soared since reaching session high at 90.70 eyeing resistance at 90.85.

GBP/JPY decline from 138.00 area on Monday found support at 135.15, ahead of European opening, and the pair bounced up to 137.40 high. while the EUR/JPY decline from 125.20 has been contained at 123.20, and the Euro has rallied on European trade, to reach 124.55 session high so far.

EUR/JPY (Mar 16 at 12:54 GMT)

124.16/20 (0.34%)

H 124.55 L 123.18

S3S2S1R1R2R3
123.62123.93124.24124.36124.67124.98
[?]Trend Index[?]OB/OS Index
Slightly BullishNeutral
Data updated on Mar 16 at 12:43 (15-minute timeframe)

[ View EUR/JPY Technical Studies ]

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