FXstreet.com (Buenos Aires) - Week starts with dollar and yen higher against major rivals, as general risk aversion sentiment spreads. However, both Euro and Swiss Franc are practically unchanged in early opening, and despite non official intervention seen last Friday. After Wall Street slump, with DJIA down 2.51% or 250 points, and S&P negative 2.81% or 30 points, local markets are expect to fall, given further support to safe haven currencies.
EUR/USD opened just above 1.4705, 61.8% retracement of last October rally; break of the strong 1.4680/1.4705 area, could trigger downside momentum in the pair, with next support at the 1.4640 area. Pair needs to clearly overcome the 1.4780 area to lose bearish perspective
USD/JPY trades at 89.45 just under the 61.8% retracement of the daily rally 88.00/92.30 at 89.60, accelerating the downside rally after breaking lower.