FXstreet.com (Barcelona) - Asia session opened with Euro and Gbp correcting a bit after Wednesday rallies, supported by a rebound in risk appetite, that send dollar down across the board. Yet, early in the European session, signs of ongoing recession keep coming with Germany manufacturing orders crashing an 8.0% on the month in January, and U.K. trade deficit widen to 7.7 billion pound in December.

Japanese Yen crosses are being sold across the board, as the currency gains momentum on a technical break, but recent weak data coming from Japan suggest that winnings could be limited in coming sessions.

EUR /USD - The pair is quoting around 1.2820, and so far holding above the 1.2800 level. Indicators are losing some strength to the upside, so further corrections will find support at 1.2755, 1.2720 and then 1.2680 zone. Above yesterday's high of 1.2865, resistances will be at 1.2898, 1.2946 and 1.3000 zone.

GBP/USD - The pair has turned bullish in 4 hours charts, and holds above 1.3860. The pair needs to break above the 1.3890/1.3910 zone to confirm further upside rallies, first to 1.3946 and above to the 1.4000 zone. Break under 1.3800 will find supports at 1.3766, 1.3710 and 1.3685.

USD/JPY - Japanese yen continues pushing to the downside, and seems ready to break under 97.00 to test the key 96.60 zone, where we have a neck of a head and shoulders figure in 4 hours charts with a height of nearly 400 pips. Rebound in that zone, will probably resume upside trend in the next days. Resistances from actual price will be at 97.40, 97.87 and above 98.20.