It has been all about the yen today with USD/JPY tumbling 240 pips, to the lowest since August 2014, after the BOJ left policy unchanged. There has also been strong demand for the U.S. dollar with the euro and the franc both losing more than a cent from their highs.

EUR/USD completely reversed post-FOMC gains and is trading on the lowest level since the NFP report earlier in the month. December - June trendline is the first stronger support level to watch before 1.1070 - 1.11 area (May low, 200 DMA, 50.0% retracement of the December - May upswing). 1.12 and 100 DMA are the potential resistance levels.

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