USDJPY:
The USDJPY formed a bearish pin bar which we discussed in last Friday's commentary. Price since then came modestly bearish and seems to have more space to run before getting to the strong support monthly close 79.75.
EURJPY:
Very lightweight volume of work-day yesterday formed a small internal bar just below the EURJPY resistance. This inside bar Setup was with market bearish momentum and could be a scenario of high-reward very low risk price merciless action traders.
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Comment:
The euro was substantially weaker today against other major currencies due to renewed concerns for debt of the euro area.
The dollar was mainly today stronger but still lost modestly the Japanese yen and the Swiss franc. the yen was the big winner in the session of trading forex today.
The Dow lost points 107.24 or 1.03%, S & P 500 dropped to 12.67 points, or 1.15% and the Nasdaq dropped to 24 86 points, or 1.11%.
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