FXstreet.com (Barcelona) - Asian markets are going through considerable declines on Tuesday, following Wall Street's negative closing on the previous day. Euro and Pound attempt recovery after sharp declines while the Dollar-Yen rally remains intact.

Japanese Nikkei Index dropped 1.5% with Hong Kong Hang Seng Index posting a similar decline. Australian ASX Index fell 1.1% and South Korean Kospi Index went 0.9% down.

Energy and resource-related shares have been among the largest losers on Tuesday's session, damaged by the decline on oil prices which fell to $78.83, from prices above $81.0 during European session on Monday.

Euro and Pound attempting recovery

EUR/USD was unable to break above 1.5060 on its third attempt on early Asian session on Monday, and the pair plunged during U.S. session from levels above 1.5000 to 1.4845. During Asian trade, the pair has picked up, reaching levels around 1.4920 at the moment of writing.

GBP/USD found support on Monday at 1.6250, after its decline from 1.6685 on Friday, and advanced during Asian and European sessions, although the pair was capped at 1.6400area and retreated on U.S session to 1.6300 area. At the moment of writing, the Pound attempts recovery, reaching levels right above 1.6350.

USD/JPY rose on Monday from 91.55 low on Asian session to a fresh 0ne-month high at 92.33 during early Asian session on Tuesday, where the pair pulled down to test 92.00 level at the moment of writing.

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