The Japanese yen seems to lock this week on gains against majors as fears spreading in the market enhanced demand on the yen as a refuge.

The mounting debt crisis, worrying announcements by Bernanke along with the slowdown in the Chinese growth lowered risk aversion in the market this week.

The dollar is currently trading near the day's opening as depicted by the dollar index which is hovering around 75.20 ahead of releasing inflation , manufacturing and confidence data from the U.S. later today.

With regard to the dollar-yen pair, it is showing slight advance, yet the pair will probably end the week lower. The pair is moving near 79.15 while it opened the day at 79.11, recording the high of 79.27 and the low of 78.87.

The trading range for today is among the major support at 77.00 and the major resistance at 80.00.

On the other hand, the European common currency is volatile on concerns that the situation may worsen in case the European banks' stress test results came at odd today.

After several downgrades to highly indebted nations in the region, specifically Greece, Portugal and Ireland, along with fears of debt contagion in Italy has pushed the euro lower where another cue form stress tests would force the unified currency further to the downside.

Currently, the euro-dollar pair is traded at 1.4150 after recording a high of 1.4198 and a low of 1.4093, whereas the trading range for today is among the major support at 1.4010 and the major resistance at 1.4455.

Moving to the British pound versus the dollar, it retreated after three days of advancement as fears enhanced demand on lower-yielding currencies amid the absence of data from the U.K and before the release of US data.

The pair is currently traded at 1.6111 after reaching the day's high at 1.6174 while the lowest point was depicted at 1.6084. The trading range for today is among the major support at 1.6000 and the major resistance at 1.6335.