Dollar and Yen continue to gain for a second day trading in a row

By @ibtimes on

Today, the U.S. dollar and the Japanese Yen continued their upside movement versus their major counterparts, as the analysts are still indicating that the situation in Middle East may expand, pushing the demand for safe haven currencies like dollar and yen to increase.

The euro dropped sharply against the greenback during the Asian session, trading around 1.3586, after recording a low of 1.3562 and a high of 1.3682. The pair faces a support at 1.3545. The daily momentum indicators show the pair in an overbought area, on the other hand four hours momentum give selling sings, supporting the pair's downside movement to continue.

The pound also dropped sharply today against the U.S. dollar, trading around 1.6167 after recording the highest at 1.6227 and the lowest at 1.6150. The pair faces a support at 1.6110. The daily momentum indicators show the pair in an overbought area, while four hours indicators give selling signs.

The dollar against the yen fell as the pair trades around the 83.32 level, recording the lowest at 82.83 and the highest at 83.42. The pair faces a support at 82.70. The daily momentum indicators show the pair in an oversold area.

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