Forex: EUR/JPY, USD/JPY: yen soars

FXstreet.com (Buenos Aires) – It’s all about risk; but Chinese GDP below expectations, and gold posting an historical daily fall against the greenback are not the only reasons below market run for safety: two explosive devices in Boston had already took 2 lives and left dozens of injured people, and “terrorism” sounds loud despite not yet confirmed.

The Japanese yen accelerates its early gains across the board, with the EUR/JPY testing the 126.00 level at the time of writing, after finally closing the weekly opening gap left past week. “The Japanese yen upward momentum seems ready to extend” says Valeria Bednarik FXstreet.com chief analyst, and she looks for an extension towards 123.60 area for the upcoming session, “as long as the upside remains capped by 126.70/127.00 now”. As for the USD/JPY that trades around 96.70 at the moment, the analyst says “ latest break below 97.50 favors now a deeper bearish movement, eyeing 95.30 in the short term, and key 94.20 area if the former support gives up.”