Investors left risky assets and headed towards refuges, especially the yen that jumped to record against some majors today, on concerns with regard Greece's possible downgrade by S&P and Moody's investment services within a month, as announced yesterday; on anticipations Greece will not be able to tackle the largest budget deficit in the EU. The yen rose against all majors as the safest currency where it climbed to one-year high against the euro, while the dollar index soared to 81.07 from the day's opening at 80.76.
With regard to the euro-dollar pair, it is showing decline on the daily charts to continue its bearish direction that stared since December. The euro is still traded near its lowest in 9 months versus the greenback an is coming close to 10-month low, while it lost more than 6% against the dollar since December. Today's data showed that economic confidence stopped its advance in February and German unemployment inclined to 8.2% after stagnating at 8.1% in the last four months. Now, the pair is traded at 1.3474 after reaching a high of 1.3547 and a low of 1.3449, where the coming support is seen at 1.3430 and next resistance is at 1.3525.
As for the sterling-dollar pair, it fell on the daily charts but showing incline on the 4-hour and 1-hour charts in the absence of economic data from the U.K. today. The pair is continuing its bearish trend that started since mid November near the lowest in nine months against the greenback after breaching the neckline of a bearish pattern on the weekly charts this week, where the pair is currently traded at 1.5288, recording a high of 1.5420 and a low of 1.5242, while it is moving between support at 1.5270 and resistance at 1.5345.
Relative to the dollar-yen pair, it is showing sharp decline on the daily and 4-hour charts as the dollar fell after the today's news which showed that U.S. jobless claims inclined. The pair is traded at 89.09 after breaching strong support at 89.27 which represents 50% Fibonacci retracement to the upside trend that started in December. The pair stopped falling when it hit a low of 88.92, where it reached a high of 90.31 earlier today. Support is seen at 88.75 while resistance is at 89.70.