The Japanese yen did a mild downside correction after rising against majors since the beginning of the week on fears in markets, while the green currency consolidates, despite the upbeat U.S. jobless claims data, after declining yesterday. The dollar index moved within narrow range as it is currently traded at 76.06 from the day's opening at 76.00.
With regard to the euro-dollar pair, it is moving sideways on the daily charts, while showing decline on the 4-hour and 1-hour charts. The pair is now oversold according to the Stochastic Oscillator on the daily charts. This week the euro zone lacks important fundamentals so moves of the euro are merely technical. The pair is currently traded at 1.4710 after touching a high of 1.4760 and a low of 1.4681, while it is expected to face the next support at 1.4648 and next resistance will be at 1.4745.
As for the sterling-dollar pair, it is continuing its downside trend that started on November 17 on the daily charts, while showing also downside signs on the 4-hour and 1-hour charts. The BoE today kept the interest rate and the APF program unchanged from last month and therefore the pound was not impacted by the announcement. So far, the pound is trading at 1.6277 setting a high of 1.6345 and a low of 1.6211; while the coming support for the pair is seen at 1.6210 and the resistance is spotted at 1.6250 then 1.6290.
Relative to the dollar-yen pair, it is inclining on the daily charts retracing three days of decline. The pair rebounded from the strong support at 87.65 which represents 38.2% Fibonacci retracement to the downside trend that started on August 10. Now, the pair is trading around 88.36 after hitting a high of 88.45 and a low of 87.71, whereas the coming support is at 87.65 and resistance at 88.53 then 88.80.