Leading the way is market fear that Spain will ask for a bailout, as Bloomberg and El Pais reports that six more Spanish regions may be set to request aid from the central government. This uncertainty is has generated broad safe-haven flows into the perceived safety of the dollar and yen.
So far in Asia, the EUR/JPY is hovering around the 95.00 mark vs. 95.36 late Friday, limited within a 30-pip range. With the bearish trend bias intact, rallies may be limited by the 9 period EMA on the 4-hour chart at 95.75, then at 96.15 (16 July low). The downside may offer support at the 94.00 psychological figure which is also confluent with the low of Aug 2000.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these securities. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Forex involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.