The dollar and the yen fell against the majors during the Asian session as optimism started spreading among the market participants believe recovery in the region might be sustained based on the better than expected economic data, as well as the stable stock markets which increased investors appetite for risk.

The euro rose today against the dollar and the yen recording the highest of 1.3088 and the lowest of 1.3054. The pair now is trading around 1.3073. The daily momentum indicators show the pair is within an overbought area while the four hours indicators still sustain an upside movement. If the pair successfully breaks the 1.3060 then the next target will be at 1.3125.

The pound followed the euro and rose today against the dollar and the yen recording the highest of 1.5742 and the lowest of 1.5699. The pair now is trading around 1.5740. The daily and four hours momentum indicators still show that the pair is within an overbought area. If the pair successfully breaks the 1.5850 then the next target will be at 1.5750.

The yen moved in a tight range with an upside bias where the pair recorded the highest of 86.70 and the lowest of 86.41. The daily indicators show the pair is within an oversold area, while the four hours show the pair is within an oversold area. The level 87.00 represents a strong resistance on the short term as well as the 86.20.