Yesterday, the major currencies failed to continue their incline, remaining at same levels. Today, majors witnessed a calm trading during the Asian session, as the investors are waiting for the US jobless report. On the other hand, the yen declined against the dollar and the euro based on the gains in Asian stock markets and the speculations of the European economies recovery.
Yesterday, the euro fell against the dollar. Today the euro/dollar pair recorded a low of 1.3175 and a high of 1.3194, having the pair trading around 1.3182. In addition, the pair may decline according to the four hour and daily momentum indicators. In case the pair breaks the 1.3130 level, it means the pair is on its way to next level at 1.3060, trading between its resistance at 1.3130 and a support at 1.3055.
Today, the British pound rose against the dollar during the Asian session, as the sterling recorded the highest of 1.5887 and a lowest of 1.5863, trading around 1.5880. On the other hand, the daily momentum indicators show that the pair is in an overbought area signaling a possible correctional movement.
The dollar/yen pair advanced to reach the 86.11 level, after recording a low of 85.72. The pair is trading in an oversold area according to the momentum indicators; the resistance level resides at 86.60 and the support at 84.80.