Despite rising yields on Greek and Portuguese debt, the Euro was able to stage a late week rally, creating a false break down, and triggering short covering. The close of EUR/USD on Thursday below a trend-line (from late March to early April), pushed the market offside, which lead to a short covering rally when the aid package was announced.
Yen Lifted by Technical's
After retracing last week on fears related to the SEC charge of Goldman Sachs, USD/JPY has rallied back and is poised to test resistance levels at 94.50. The 5-day moving average is set to cross above the 20-day moving average, which is a positive technical sign for the currency pair.
Analysis provided by Exto Capital
Yen Lifted by Technical's
After retracing last week on fears related to the SEC charge of Goldman Sachs, USD/JPY has rallied back and is poised to test resistance levels at 94.50. The 5-day moving average is set to cross above the 20-day moving average, which is a positive technical sign for the currency pair.
Analysis provided by Exto Capital
