FXstreet.com (Barcelona) - With Japanese markets closed for public holiday, seems likely majors will continue consolidating/correcting in the following hours. The Euro and the Gbp have been the beneficiaries of the dollar's weakness this past 2 days, with Euro even stronger than Gbp. While both central banks have been cutting rates to fight recession, Europe still have room to go, while the U.K. is in 0.5% the historical low. And while England already started with quantitative easing, Euro zone has no central Treasury and so, won't be an easy measure to apply.

EUR /USD - The pair is moving in a tight range with very low volume at this time, still overbought in 4 hours charts, the pair has an immediate support around 1.3645, that if broken could trigger some more interesting selling with next supports at 1.3610, 1.3570 and finally 1.3535. Above 1.3690 resistances will come at 1.3738 and 1.3760 zone.

GBP/USD - After reaching almost the 1.4600 level, the pair continues correcting slowly to the downside. Indicators are way over bough yet the pair will need to break under 1.4485 zone, to confirm further downside movements. Supports will be at 1.4450, 1.4392 and 1.4336. Resistances on the other hand will be at 1.4552, 1.4584 and 1.4610.

USD/JPY - Consolidating around the 94.60 zone, indicators suggest probable bullish continuation at actual levels, after reaching an intraday low of 93.54. Slightly bullish, consider resistances at 94.86, 95.20 and the 95.50 zone. Under 94.38, supports will be at 94.05 and 93.55 zone.