After last week's price rampage between majors and crosses; the USD continues to find some realistic support while testing the all important & key price level @81.05. Some USD bull speculators still remain in the market based on the lastest COT report in spite of the recent price decline.
However, the USDJPY decline or the Yen's appreciation dominated the market place as the BOJ maintained their monetary policy to spur-up their economy diappointed most traders leading to its price action decline in one day touching 94.98. Thus carrying the USDx decline equivalent to 81.05 basis point. The abrupt price action on the USDJPY low resulted to a strong pullback towards the closing and after retracing to as high as 99.27; a restest of the low was made on the first few trading days ahead of the week. This also affected the price activity on the cross rates especially the GBPJPY followed by the EURGBP cross which both currency pairs had pulled back from their respective HI/LO giving other traders a run for their limit orders in both directions.
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