Japanese Yen retreats versus its major counterparts

By @ibtimes on

The Japanese yen declined today against its major counterparts the American dollar and other majors, as the Asian stock markets inclined, pushing the investors to buy high-yield assets which reducing the demand for safer assets such as the yen and the dollar. On the other hand, the market's anticipations indicated that the global growth to recovery to increase the confidence of investors in financial markets.

The euro/dollar pair inclined during today's Asian session and now the pair trades around 1.3129, recording a high of 1.3142 and a low of 1.3089. The pair now faces a resistance at 1.3230, where the daily momentum indicators show the pair in an oversold area, while the four hours indicators supporting the pair's incline.

Turing to the British pound/dollar pair rose during the Asian session, trading around 1.5479, recording a high of 1.5485 and a low of 1.5458. The pair now faces a resistance at 1.5580 then at 1.5650. The daily and four hours momentum indicators support the pair's incline since it reached an oversold area.

The dollar/yen pair dropped today, while the pair trades around the level 83.74, recording a low of 83.73 and a low of 83.84. The pair faces a support at 83.40; meanwhile momentum indicators show the pair in an overbought area, which favors the downside movement.

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