Risk aversion has made of Japanese yen the main beneficiary of the situation. Against dollar, Japanese yen reached the Y94.07, and the pair remains under key 94.30, 50% retracement of the weekly rally 87.10/101.44. Daily close under this level, could signal further falls with 92.60 as probable target for next days, 61.8% of the mentioned rally. Immediate support levels lie at 94.00 zone, followed by 93.85, May 22nd low, and 93.30, Feb 19th low. Above 94.30, resistances lie at 94.65 and 95.10.EUR/JPY, now around 131.00, is holding just above daily 100 SMA and technically oversold, thus downside pressure remains intact. Immediate support comes at 130.40, today’s low, followed by 130.00 and 129.60 zone. Above 131.40 next resistances will be at 131.90 and 132.55.
GBP/JPY hovers around 151.50, previous strong congestion zone. Also oversold, yet with no technical signs of reversal, break under today’s low at 150.96 will send the pair close to psychological key 150.00 level, followed by 149.60, static congestion zone. Resistance will lie at 151.80, 152.40 and 153.00
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