Forex Update :-USD/JPY reached the 50% retracement of this week fall around 86.95, and consolidates just under it. If pair does not manage to regain before the end of the day at least the 87.60 level, more downside pressure will be seen, unless Japan authorities decided to stop talking and start to act (something they usually do on weekends, triggering strange movements Sunday opening).”
Greenback’s recovery failed to break above 87.00. USD/JPY rose to 87.01, posting a fresh intra-day high and currently trades at 86.66/70, 0.09% above today’s opening price. The pair recovered after falling to 84.79, reaching a new 15-year low.
The Euro fell against the Dollar on Friday but finished far from the lows. EUR/USD bottomed at 1.4826, reaching the lowest price since of the week. But as stocks started to recover in Europe the pair begun to rise.
EUR/USD soared more than a hundred pips during the American session and jumped from 1.4870 to 1.4988. The pair then pulled back to 1.4955.
The pair ended the week with gains but far from the highs. The Euro rose on Wednesday to the highest level in 13 months but then pulled back sharply.
