FXstreet.com (Barcelona) - After hitting multiple weeks highs against dollar, except Gbp, most majors are making some short corrections pre Tokyo open. Yen is giving up ground ahead of BOJ Monthly report, the only data to be published during the Asian session. Earlier in the American session FOMC minutes triggered a massive sell off of dollars, with the announce of more quantitative easing to come in the next months.
EUR /USD - Correcting from the 1.3534 high, the pair is still over bought in 4 hours charts. Low volume at these hours is keeping the pair just above the 1.3460 level, yet could extend correction to next supports at 1.3416, 1.3365 and then the 1.3320 zone. Above 1.3500, consider resistances at 1.3534, 1.3576 and 1.3622.
GBP/USD - Quoting around 1.4230, 200 EMA around 1.4200 could well be the first support for the next hours, followed by 1.4190 and 1.4138. 4 hours charts are losing the overbought state, and momentum remains to the upside. Consider resistances at 1.4280 1.4334 and 1.4390 zone.
USD/JPY - After rebounding in the 200 EMA in 4 hours charts at 95.67, the pair made a nice come back to the 96.50 zone. Despite the downside rally, the pair could regain bullish bias based more on fundamentals than technical's. Besides, today's low reached the bottom of an ascendant channel, and indicators are pointing for further recoup. Consider resistances at 96.60, 96.92 and 97.20 zone. Supports will be at 96.10, 95.85 and 95.55 zone.