Japanese Yen is breaking higher agaisnt major rivals, despite unemployment claims in the U.S. save the day and halt the stocks fall printing a 505K reading for the last week;

USD/JPY trades at 88.70, with next key resistance level to watch at 88.20, while EUR/JPY approaches to intradat low of 131.80. Still EUR/JPY has less chances to extend to 131.20, before a pullback as hourly charts look extremely oversold.

A disappointing earnings report from Morgan Stanley is sending U.S. futures down, and Japanese Yen appreciates strongly across the board. Against dollar, pair break under 93.20 and adresses quiclky to next support zone at 92.60 area, followed by 92.10. Bearish sentiment in the pair remains strong, so upside corrections will remain limited unless some shocking news turn futures up. Consider resistances at 93.50 and 93.90/94.10 area.

Optimism last about 10 minutes, and market turn to the other side. Dollar is rising fast, and yen falling hard, just about to hit the descedant trend line mentioned earlier, while Euro rebound just above 1.4080. In 30 minutes, Wall Street will no doubts gave another interesting rally. If yen breaks above 98.20/30 zone, expect more sell off in the Japanese currency.

Risk apppetite finally hit the second safe haven currency, and japanese yen is falling fast across the board. Gbp/Jpy and Eur/Jpy are about to hit key resistance levels, first at 158.30 second at 137.50 zones, where we could expect some interesting rebounds if not broken. Usd/Jpy is also in a key resistance zone around 96.30 and despite overbought in smaller time frames, no signs of correction yet.Next resistances here will come at 96.60 and 97.10 zone. Clear break above 97.50 (not seen for today) will turn the pair bullish for the next days.

U.S. reports save the day, as most macroeconomic data printed better than expected readings, sending Wall Street quickly up despite early tumble. Risk appetite is up, dollar and yen down (not as far as to affirm things have changed). Richmond Fed’s regional manufacturing index improved in April to -9 from a previous reading of -20, while US consumers’ confidence of the economy rose to its highest point of the year, 39.2 from a previous also revised to the upside, 26.9.

Wall Street reached positive territory, and remains tending higher, dragging DAX also in positive territory, and erasing early losses. Dollar and yen are down against major rivals, and corrective movements have room to continue, if stocks continue supporting risk appetite.

Wall Street open to the downside and futures sink, giving further support to greenback, while Japanese Yen remains weak and downside is contained by the 100.55 zone mentioned earlier. Gbp and Euro, turn slightly bearish in hourly charts, let’s see if next supports, 1.4792 and 1.3425 hold the downside.

In a very fast movement, majors are falling more than 100 pips against dollar. Probably some profit taking and the due corrections trend needs to continue. Watch the 1.3500 level for Euro, the 95.50 zone for Japanese yen, and the 1.4330/50 zone for Gbp. If broken, longer term stops could be trigger and send dollar further up.