The Nikkei's positive performance earlier today helped set the tone for the USD/JPY's direction at the moment. Despite that, however, the pair is struggling to breach past the 102.50 area.
The pair opened the Asian session at 102.32, after which it made a sharp rise above the 102.50 area, reaching a high of 102.54. It was unable to maintain the level, though, as it returned just above the 102.40 zone. It is currently retesting the 102.50 area, and is trading at 102.49. Initial resistance for the pair is at 102.75, followed by 103.00. Meanwhile, initial support is at 101.98, followed by 101.73.
After peaking at the 1.3770 area during the middle of the week, the EUR/USD pair is pretty much at the same level where it was on Monday.
Yesterday, the pair made a sharp drop at the opening of the European session, likely due to the poor PMI data across Europe. Notable examples are Germany's Manufacturing and Services PMI, which came out at 54.7 (lower than the expected 56.3) and 55.4 (higher than the expected 53.4), respectively. In addition, the EU's Manufacturing PMI came out at 53 (lower than the 54 expected), while the Services PMI was at 51.7 (lower than the 51.9 expected). These data dragged the EUR/USD pair from above the 1.3760 area to around the 1.3690 zone. It attempted a return to 1.3710 before falling to 1.3690 again. It has since recovered at around the 1.3710 area, a level it has held on to until today's Asian session.
It is currently trading at 1.3718, with initial resistance seen at 1.3741, followed by 1.3775. Meanwhile, initial support is at 1.3663, followed by 1.3629.
The AUD/USD pair has taken a beating yesterday, but managed to make a comeback to the 0.9000 area late in the US session. It was dragged down again, however, due to the poor performance of the yen. It is currently trading at 0.8983, with initial resistance seen at 0.9062, followed by 0.9085. Meanwhile, initial support is at 0.8973, followed by 0.8951.
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