Huge volatility is witnessed in the Japanese Yen vis-à-vis most of the currency pairs, especially against the Greenback and the Common currency. Volatility may continue till the economic impact of tsunami which leveled northern Japan on March 11, 2011 becomes clear. In case of Dow Jone Industrials (DJIA) short covering was observed at 11500 ranges, wherein we have seen sharp recovery till 11870 ranges. DJIA and Dollar Index (DX) correlation may not work due to high volatility in Japanese Yen.
FX Pair Support 2 Support 1 Resistance 1 Resistance 2
EURUSD 1.3875 1.3990 1.4097 1.4282
GBPUSD 1.6006 1.6106 1.6220 1.6341
USDCHF 0.8900 0.8965 0.9106 0.9256
USDJPY 79.92 80.68 82.45 83.91
EURJPY 111.00 112.89 116.30 –
AUDUSD 0.9696 0.9848 1.0032 1.0271
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