The greenback continued it bearish trend

*EUR/USD:* 
The Euro traded at 1.3725 shortly after the Asian open initially
climbing higher to 1.3742 before pulling back. The greenback continued
it bearish trend yesterday because of worse than expected employment
and US Durable Goods data. The pair is trading at 1.3705 this morning
 
The single currency now eyes resistance at 1.3786, the Nov. 22 high,
having already broken the 2-month top of 1.3725. Many traders are
suggesting that a break of this November high could start a new
1.38-40 range. Significant moves higher have bolstered the euro, since
touching a 4-month low at 1.2860 on January 10th.
 
News today focuses on releases from the US with Advanced GDP being
released at 13:30 GMT.
 

*GBP/USD:* 
Cable traded to a high of 1.5937 during the Asian session before
retreating to a low of 1.5856 so far this morning, support is believed
to be at the 1.5850 level. This pull back on Cable has come after the
release of GfK Consumer Confidence numbers overnight showing a fall to
-29 from the previous level of -21, the market had forecasted a number
of -20.
 
The British Pound has found support this week following the release of
the MPC Meeting Minutes on Wednesday showed that another member of the
MPC, Martin Weale, voted in favor of a rate hike. This added pressure
raises the chances of a rate hike sooner than later.
 
 

*USD/JPY:* 
There was a wakeup call for Japan this morning following the S&P
downgrading Japan's rating from AA to AA-. There was a huge movement
yesterday following this news, breaking the tight range that it had
traded Wednesday night and early Thursday morning. The weaker Yen
pushed the US dollar higher, reaching a high of 83.19 shortly after
08:00 GMT yesterday.
 
This is the first cut that Japan has experienced since 2002; following
concerns that Japan is not doing enough to lower the world's debt
load. The USD/JPY traded at 82.90 when Asia opened and has pushed
lower since then with the Yen pulling back lost ground. USD/JPY trades
at 82.65 this morning with resistance at 83.20 and support 82.40.

Source: Fxstreet.com