Today, with the beginning of trading this week, Japanese Yen rose against major currencies, while the dollar inclined against euor, after itreached to highest level, as The Japanese economy issued its report today, showing that economy expanded at the slowest pace in three quarters, which determined the international investors to look for safer assets such as the yen.
The euro/dollar rose during the Asian session, is recording a high of 1.2792 and a low of 1.2733, having the pair trading around 1.2776. The pair is trading in an oversold area according to daily momentum indicators, and may move between its resistance of 1.2924 and its support of 1.2750.
The British pound inclined against the dollar during the Asian session, recoding a high of 1.5588 and a low of 1.5534, having the pair trading around 1.5575. The pair is trading in an oversold area according to the daily momentum indicators, trading between its resistance of 1.5804 and the support of 1.5575.
Turing to the dollar which declined against the Yen as a result of demand for the Japanese currency increased, recording the highest of 85.97 and lowest of 85.71, and now the pair is trading around 85.80. The daily momentum indicators show that the pair is in an upside trend along with four hours momentum indicators, which increases the pressure on the pair to resume his decline.