EUR/JPY fell hard during the Monday session, and now threatens the 105 mark. The area could either be supportive, as it was a break out point previously - or resistive as we close below it. A daily close below that level would show massive weakness in this pair. As the 105 area is do significant, we are waiting to see the daily close on Tuesday for clues, but it IS at an important inflection point.
EUR/AUD is a great "risk on" / "risk off" currency pair. The pair will actually rise when there is concern, as the EU is considered "safer" than Australia. (We would question the truth of that, but we can't fight the market.) Looking at this pair, it seems that we have broken out, then pulled back and found support. Maybe....
Create a FREE account