Tight ranges for majors

The euro against the dollar traded during the Asian session between the highest of 1.2734 and the lowest of 1.2701. Now the pair is trading around the 1.2717 level, between 1.2695 and 1.2750. EU will release today its CPI index as well as the industrial production for May. The hourly, four hours and daily momentum indicators show the pair is within an overbought area. The pair might trade around 1.2835 if it breaches the 1.2780 level, and it may trade around 1.2660 if it breaches the 1.2615.

The pound against the dollar traded during the Asian session between the highest of 1.5242 and the lowest of 1.5195. Now the pair is trading around the 1.5224 level, between 1.5210 and 1.5270. UK will release today its claimant count rate as well as the jobless claims change and the ILO unemployment rate. The hourly, four hours and daily momentum indicators show the pair is within an overbought area. The pair might trade around 1.5320 if it breaches the 1.5270 level, and it may trade around 1.5080 if it breaches the 1.5145.

The dollar against the yen traded between the highest of 89.10 and the lowest of 88.78. Now the pair is trading around the 88.98 level, between 88.95 and 89.55. BoJ started it monetary policy meeting throughout which it may keep the interest rate unchanged at 0.1% in an attempt to sustain the economic recovery of the second largest economy in the world and disperse some of the deflation threats that Japan have been facing. The hourly and four hours momentum indicators show the pair is within an oversold area, but the daily indicators show the pair might witness a negative crossover in an overbought area. The pair might trade around 90.60 if it breaches the 90.20 level, and it may trade around 88.00 if it breaches the 88.40.