Moment of Truth as Yen Crosses Reach Resistance

Yen crosses have reached levels that served as support and resistance throughout the last 2 months. At least a near term reaction lower is expected

Yen crosses have reached levels that served as support and resistance throughout the last 2 months. At least a near term reaction lower is expected

The Dow Jones FXCM Dollar Index was off by more than 1% in North American trade as global headlines and strong US data drove risk to new highs. Here are the levels to watch as the greenback looks to consolidate ahead of NFPs.

FXstreet.com (Córdoba) – The US Dollar is posting important losses across the board amid optimism in the markets after the announcement of liquidity measures by central banks. Markets

The greenback appears to be regaining its footing following the sharp selloff from earlier this morning, and we may see the reserve currency trade higher throughout the North American trade as it remains heavily oversold.

Increased efforts by global central banks to ensure free flowing liquidity sparked a massive global rally in risk with the dollar coming under substantial pressure as higher yielding assets surged. Here are the key levels to watch on the aussie and the yen.

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