FXstreet.com (Barcelona) - Stocks are set to run during the Asian session, following Wall Street surge. Nikkei Index downside has been limited despite Wall Street's recent tumble, so its upside today is also likely to be limited, as risk appetite has not full y return to markets, and investors are still reluctant to risk positions.

Euro strengthened against the U.S. dollar today but the rally has retrieved significantly. News from Europe shown that Industrial production slumped during the first month of the year in France, and Germany, while in England the manufacturing output declined for the 11th straight month in January.

Market's appetite for dollars may have been reduce, yet has not waned dramatically. Key turning points remain far from actual levels.

EUR /USD - The pair is slightly bearish in 4 hours charts, although with technical divergence coming from indicators. The pair needs to break the daily descendant channel to confirm further continuations. Resistances from actual 1.2730 will be at 1.2770 and 1.2810/20 zone where we have the 200 EMA. Supports for the next hours will be at 1.2700 followed by 1.2660, 1.2620 and 1.2588.

GBP/USD - Quoting just under 1.3800, the pair has break to the downside and continues under strong selling pressure despite indicators are giving signs of exhaustion to the downside. Corrections will find resistances at 1.3826, 1.3890 and 1.3930. Supports will be at 1.3741, followed by 1.3690 and 1.3610/20 zone.

USD/JPY - Regaining bullish strength after testing the 98.00 level, the pair continues slowly firming up. Above the 98.90 zone, next resistances will be at the 99.30 zone, followed by the 99.64 high and above the 100.00 zone. Supports will be at the 98.50 zone, followed by 97.98 base of the ascendant daily cannel. Clear break under will deny an upside continuation in the medium term.