EUR/JPY rebounds sharply from 137.90

FXStreet (Córdoba) - The EUR/JPY managed to trim losses and is about to finish the day hovering around 138.40, with a decline of 35 pips but considerably far from the lows.

Earlier, as the EUR/USD dropped to 1.3575 and the USD/JPY fell toward 101.50 the EUR/JPY declined sharply to 137.90 but then rebounded and recovered ground during all US session. After Wall Street closing bell the pair extended the recovery and climbed to 138.48.

Despite the recovery from the lows the EUR/JPY had the worst day in two weeks. Key short term support around 138.00 remains intact while to the upside the area around 139.00 continues to offer strong resistance.

Jun 26, 2014

Wall Street declines again after the Wednesday pause

The US stocks market failed to recover all earlier losses and it closed with small declines again after the Wednesday's bounce. Thursday was the third drop in four days.

NZD/USD keeps flying to print fresh 3-year high

FXStreet (Bali) - NZD/USD just shot up to post its highest level since July 31, 2011, after reaching a new peak of 0.8787 in thin market conditions.Stops reported above this year's high at 0.8770/75 were taken out, causing a cascade of buy stop orders to get triggered, allowing the rate to extend its firm bullish momentum since Wed's awful US Q1 GDP, a major positive input in the pair as the perception in monetary policy divergences between the RBNZ and the Fed widens further.Technically, the breakout set the stage for a new upside objetive of 0.8845, 2011 high, followed by 0.89 round number, with the 0.90 no longer an illusion should NZ data continue to support the Kiwi. The next risk even is at 6.45 GMT with the New Zealand current account, which should see further volatility in the pair ahead of Tokyo.