The USD/JPY sets its 16-year minimum today.
Asian and European trading sessions:
Euro: On Wednesday the euro showed decrease after the release of the Moody’s credit rating for Portugal, which was reduced from A1 to A3 with the negative forecast. Concerns over the European budget crises reinforced again.
The EUR/USD pair dropped to the minimums of $1.3925.
US Dollar: Instability around the situation in Japan, as an outcome of the devastating earthquake, rendered support to the growing demand for the save-heaven assets.
British Pound: The sterling rate set maximums of $1.6131, and the GBP/USD pair traded in the range of $1,6050 – $1,6100.
The released today UK jobless claims dropped for 10.2K, but the unemployment rate grew to 8.0%.
Japanese Yen: The USD/JPY pair traded in the range of Y80.70-Y81.20.
Oil: Oil prices continued to be under pressure and the oil rate was around $96.20 per barrel. Later during the day the oil rate grew to the level of $98.98 per barrel. Maximum was reached at the $99.32 mark.
Gold: The gold rate grew to the $1,403.90 mark per ounce.
American trading session:
Swiss Frank: Swiss frank continued to be a save-heaven currency against the background of the instability in the Middle East.
Japanese Yen: The USD/JPY pair set a 16-year minimum today at the level of Y76,73 due to the growing concerns regarding the risks of radiation leaks in Japan.
Technical analysis for 17/03
EURUSD
The pair is declining to support level 1.38554. If this level is broken the pair will decline to 1.37486.
Resistance: 1.39600, 1.40690, 1.41780
Support: 1.38554, 1.37486, 1.35984
GBPUSD
The pair has tried to break 1.60322 this may lead pair to the Moving Average (100) at 1.59531.
Resistance: 1.62050, 1.63316, 1.64636
Support: 1.60322, 1.58543, 1.56722
USDCHF
The pair reached 0.91079. Roll back maybe expected after a sharp movement to 0.91299.
Resistance: 0.92026, 0.93069, 0.93949
Support: 0.91079, 0.89891, 0.88691
USDJPY
The pair’s temporary support is at 76.535, resistance 80.244. Expecting a high volatility.
Resistance: 78.345, 79.707, 80.438
Support: 77.539, 76.463, 75.425
AUDUSD
The pair has declined to the Moving Average (200) at 0.97423 which is support for the pair. If this level is broken the pair will decline to 0.96464. But before that roll back to 0.98436 maybe expected.
Resistance: 0.98436, 0.99207, 1.00067
Support: 0.97423, 0.96579, 0.95611