The Japanese yen and the green currency strengthened on Monday against other major currencies, in a day that lacked important fundamentals from major economies. Markets are still dominated by fears, after the dull economic data released last week, which triggered concerns. The dollar index, which tracks the dollar's movements versus a basket of major currencies, rose to 76.89 compared with Friday's closing at 76.77.
The euro-dollar pair declined on the daily charts, after the previous upside trend.The pair is also declining on the 4-hour and 1-hour charts. There is no economic data from the Euro Zone today, so movements today are merely technical. Meanwhile, the euro is currently traded near at 1.4638 recording a high of 1.4719 and low of 1.4562, where the pair is supported by 1.4625 and faces the coming resistance of 1.4655.
The sterling-dollar pair is still continuing its downside fall on the daily charts, which started on September 14, heading into an oversold area, according to the Stochastic Oscillator momentum indicator. The pair is also showing a slight decline on the 4-hour and 1-hour charts. So far, the pound is traded at 1.5813 setting a high of 1.5976 and a low of 1.5768; while the coming support for the pair is seen at 1.5782 and the resistance is spotted at 1.5860.
The dollar-yen pair is showing a downside bias on the daily and 4-hour charts, but it inclined to 89.43, after hitting a low of 88.21. The Japanese yen strengthened today against the dollar, touching its highest in 18 months, after the announcements of the Japanese finance minister that appreciation is good for the yen. Now, the pair is close to the high of 89.68; while the pair is currently facing the coming support level at 89.25, while the resistance is spotted at 89.45.