Yesterday majors fell against the dollar; the Yen also declined against the greenback following some expectations that the Japanese government is working to curb the Yen's gains, which has a negative effect on the nation's exports.
Today, the Euro rose against the dollar during the last four hours, where the euro/dollar pair recorded a high of 12864 and a low of 1.2825, and now it trades around 1.2851. The pair is trading in an oversold area according to daily momentum indicators, and may move between its resistance of 1.2924 and its support of 1.2775.
Turing to the Sterling, which inclined slightly against the dollar and the Yen, recoding a high of 1.5625 and a low of 1.5579, having the pair trading around 1.6508. The pair is trading in an oversold area according to the daily momentum indicators, trading between its resistance of 1.5804 and the support of 1.5550.
Yesterday, the dollar/yen rose to a record 86.17, recording the highest of 86.17 and lowest of 85.95 and now the pair is trading around 86.10. The daily momentum indicators show that the pair is in an upside trend along with four hours momentum indicators, which increases the pressure on the pair to resume his climb.