The Japanese currency climbed an eight months high against the dollar, whereas the dollar hovered near a three month through against the euro as the world's largest economy is losing steam, while the anticipations indicated that the Federal Reserve will release its decision about the interest rate to keep it low, which pushed the international investors to invest in safer assets such as the yen.
The euro is remaining within sight of a three-month high of $1.3262 reached on trading platform on Tuesday, where the euro/dollar pair is recording a low of 1.3215 and a high of 1.3239, having the pair trading around 1.3225. Also, the pair is trading in an overbought area according to momentum indicators on the four hour and daily charts. Finally the pair may reach its highest target at 1.3350, in case the pair breaks 1.3130 levels, and then it will be on the way to next level at 1.3060.
Yesterday, the British pound advanced against the dollar during Asian session, after it inclined to 1.5900 today. Yesterday the pound/dollar pair recorded a high of 1.5966 and a low of 1.5926, having trading around 1.5928. On the other side the momentum indicators on the four-hours and daily charts indicates that the pair in an overbought area, whereas the momentum indicators indicates the pair attempt to correction.
The Japanese currency advanced versus all 16 majors' counterparts, where the dollar/yen pair fell to reach 85.38, after recording a high of 85.89. Also, the pair is trading in an oversold area according to momentum indicators on the four-hour and daily charts, trading among its resistance at 86.30 and a support at 84.80.