FXstreet.com (Barcelona) - The Euro and Pound have gone through a corrective move during Thursday's European session returning to the highest levels of the current week, while the Dollar has consolidated at a six weeks high against the Yen.
EUR/USD has been the bigger mover today jumping a maximum of 100 pips from session low at 1.2572 to a high of 1.2686. At the moment the Euro is trying to break the highest level of the current week at 1.2675 to aim at 1.2700. In the longer term, Euro continues within the downward trend channel off 1.3093 on Feb 9. Only a break above 1,2725 would change the bearish bias.
Against the Yen, the Euro has risen 140 pips from 117.40 to a maximum 118.90, at the moment the Euro is attempting to break through 118.90 although the pair looks oversold and starts to lose strength.
GBP/USD has climber from 1.4255 to touch resistance level at 1.4415 and drop back above 1.4350. USD/JPY has rallied during Asian session reaching six-weeks high at 93.95 to drop back some ground and consolidate above 93.35; at the moment, the pair looks overbought in both daily and hourly charts.