The yen started rising against most majors as volatility remains the main feature of the markets. However the dollar was able to rise during today's Asian session against the euro and the pound since majors failed to extend its upside trends yesterday.
The euro fell against the dollar during the Asian session, reengaging into its downside movement seen last week. The euro recorded a high of 1.2874 and a low of 1.2822 during today, and now the pair trades around 1.2842. The daily momentum indicators show the pair is trading within and oversold area, which might weaken its downside movement seen now. During its decline the euro will face a support at 1.2750.
The pound fell sharply against the dollar during the Asian session, recording a high of 1.5579 and a low of 1.5496 during today, and now the pair trades around 1.5530. The daily momentum indicators show the pair is trading within and oversold area. The pound was able to break the 1.5580 support and now targets the 1.5440 on the short term.
The dollar/yen pair started strengthening again, recording a high of 85.60 and a low of 85.32, and now it trades around 85.48. The four hours and daily momentum indicators support the pairs downside movement, which increase the chances of reaching the strong support found at 84.80.