FXstreet.com (CÃ³rdoba) - The Dow Jones Industrial Average rose today 1.50% and ended above 8.000 but failed to continue the weekly rally ending a period of six straight weeks of rises. Related what happened in markets, currencies that used to gain strength during times of risk aversion had a comeback. The Japanese yen appreciated against USD, GBP and EUR; but lost to CHF. These movements show an increase in the price of those currencies associated with refuge positions.
USD/JPY closes at lowest since March.
USD/JPY fall today almost 1% breaking a relevant support at 97.55. For moments the pair fell below 97.00. Today close was the lowest since March 23. This marks a stronger yen.
Against the pound the yen also gain for the week. GBP/JPY fell hard on Monday but was unable to consolidate below the key support at 141.00. For an upside recovery GBP/JPY has to brake above 145.30 where a key resistance level is located.
EUR/JPY also fell on Monday but during the week could recover part of the losses. GBP/JPY closes next to weekly lows while EUR/JPY near the opening price. Between 126.00 and 126.40 the pair has an important support that avoided a bigger fall.
For more information, read our latest forex news.