The US dollar against the Japanese yen pair is trading in a narrow range, while the pair declined after the Japanese economy showed its unemployment rate fell 4.6% during the month of February. Today, the pair has been success to hold above its consolidation area for a second straight day.
The pair ended Monday session at 81.71 recorded the highest at 81.83, while the daily and four hours momentum indicators show the pair in an overbought area, but the four hours indicator start to give selling signs
The pair started the session with a drop, following its declining during the previous trading session, as the market is waiting the US unemployment, which expected to show employers added more jobs, along side the cheerful report that showed the US economic growth grew more than expectations during the fourth quarter of 2010, pushed the investors to prefer buying the US dollar.
The pair closed Monday's session at 1.0232, which recorded a high of 1.0312, whereas the four hours momentum indicators show the pair in an overbought area, and the daily indicators give selling signs.
The NZD/USD pair rose slightly as a cheerful report that showed that New Zealand trade balance surplus widened to NZ$194 million from a previous. The New Zealand dollar against the greenback closed yesterday's session at 0.7496, after recorded the highest level at 0.7552.