EUR/USD, USD/JPY — February 14th 2012
Watch the latest analysis of the EUR/USD, USD/JPY Forex pairs for the February 14th in this video. EUR/USD — initially rose during the Monday trading session after the Greek Parliament passed the austerity measure, but the risk appetite fell almost right away. The 1.3250 area is at the 38.2% retracement level of the larger move down. Also the 100 day moving average adds more bearish pressure to the Euro. Even the austerity measures really didnt seem to affect the market much, the market still seems to be little less than impressed and Euro looks negative. On the break of the low from Monday session, the 1.30 level will be tested again. USD/JPY — We initially fell and formed a little bit of a hammer. The 77.50 level looks supportive. However at 78.50 level is seen as resistance, that contained the rallies recently and also the Central Bank intervention. Also the 80.00 level is seen as massive resistance. This is seen as a selling opportunity in the near future on signs of weakness.
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