FX.co ★ Potential roll back in EUR/USD and USD/JPY

Financial markets in Europe and Asia declined markedly. Meanwhile, crude oil and gas prices have surged, primarily due to escalating tensions in Ukraine. Demand for dollar also rose, thereby resulting in a decline in currencies paired with it. Gold also increased in price, while yields of US treasuries fell amid the resumption of their purchases.

And considering all the events that have taken place, it is likely that European trading floors will open in the "red".

But if tensions in Ukraine ease, then risk appetite will surge.

Forecast for today:

The support level in EUR/USD is 1.1300. If the situation in Ukraine stabilizes, then the pair will rally to 1.1385.

USD/JPY is currently trading at 114.65. If the situation in Ukraine stabilizes, then the pair will rally to 115.70.