The European currency surged today versus its major counterpart the Japanese yen for the first time in four days, after the Japanese economy announced that the nation will buy European government bonds to help Ireland exist from its sovereign credit crisis.
On the other hand, the American dollar has jumped for the first time in three days against the yen before a report that will show the U.S. confidence among small business increased to the highest level in three year.
The euro/dollar dropped with the beginning of today's trading session, and now the pair trades around 1.2943, recording a high of 1.2989 and a low of 1.2911, while the euro faces a support 1.2890. On the other hand, the daily momentum indicators show the pair in an oversold area, while the four hours momentum indicators show the pair in an overbought area.
Turing to the pound/dollar pair also declined during Asian session, and the pair trades around 1.5562, recording the lowest at 1.5544 and the highest at 1.5587, where the pound faces a support at 1.5530. The daily momentum indicators give buying signs, while the four hours momentum indicators show the pair in an overbought area.
The dollar/yen pair rose sharply during today's session, and now the pair trades around 83.05 level, recording the highest at 83.12 and the lowest at 82.70. On the other hand, the pair faces a resistance at 83.25. The daily momentum indicators show the pair in an overbought area, and four hours indicators show the pair in oversold area.