FXstreet.com (Buenos Aires) - Risk aversion has dominated market since early Europe, starting with ratings downgrades for Greece, and warnings both for the U.S. and the U.K. Dollar rally, despite overextended, likely to continue after Nikkei opening, that has quite negative cues from Wall Street (DJIA close down 1.0% while S&P lost also 1.0%).

Japanese yen has also a positive perspective for current session, as the safe haven currency tends to appreciate in this risk aversion stages of market. Besides, many players will likely decide to close their accumulated positions rather than take more risk with the end of the year around the corner.

Euro has a negative perspective against both safe havens currencies, thus rallies to the downside likely to remain contained due to over sold conditions the currency has against both dollar and yen. EUR/USD tipped between 1.4610/1.4780; EUR/JPY tipped between 129.00/131.80.