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FX Street - Wall Street ends 6-week rally; Yen renews strength

<!–TITOL: <h1 id=”titol”>Wall Street ends 6-week rally; Yen renews strengthFITITOL–>FXstreet.com (Córdoba) – 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 sh
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ow an increase in the price of those currencies associated with refuge positions. <br /><br /><strong>USD/JPY closes at lowest since March. </strong><br /><br /> 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. <br /><br /> 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. <br /><br /> 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. <br /><br />For more information, read our latest <a href=”http://www.fxstreet.com/news/forex-news/”>forex news</a>.
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