The Japanese yen decline with the beginning of the week against the dollar and other major currencies, after the U.S. President and Congress approved on a plan to increase the debt ceiling in the United States by $2.1 trillion dollars, which reduced demand for safe haven currencies.
The euro increased against the U.S. dollar during today's Asian session. The EU currency is trading as of this writing at 1.4412 after recording the highest of 1.4423 and the lowest of 1.4345. On the short term the currency faces a resistance at 1.4270 while the momentum indicators show the pair is in an overbought area.
The pound advanced against the U.S. dollar during today's Asian session touching the highest of 1.6473, then it weakened further recording the lowest of 1.6409, and as of this writing it is trading at 1.6425. On the short term the currency faces a resistance at 1.6480 which could support the downside movement for the pair, with the momentum indicators show the pair is in an overbought area.
The dollar/yen pair advanced today where it reached to its highest at 78.03 level, the pair now is trading at 77.53 recording the lowest of 77.29. Momentum indicators show the pair in an oversold area, yet the pair ignores those signs.