The Japanese inclined against majors on speculation Japanese exporters bought the yen as they considered its fall overestimated in a tranquil day due to Easter Holiday. On the other hand, the dollar index, which tracks the dollar movements versus six major currencies, surged to 81.22 from the day's opening at 81.14 after reaching a high of 81.29 and a low of 80.94.
With regard to the euro-dollar pair, it is showing decline on the daily and 4-hour charts, to continue its movements around key resistance at 1.3481 which represents 61.8% Fibonacci retracement to the upside trend that started in March last year. Still, the outlook for the euro is worrying with worries that Greece and other highly-indebted European economies may not be able to cut their huge budget deficits. The pair is now trading at 1.3469 while recording a high of 1.3537 and a low of 1.3461, where the coming support is seen at 1.3405 and next resistance is at 1.3565.
As for the sterling-dollar pair, it halted its prior advance for sixth consecutive sessions as it failed to breach strong resistance at 1.5274. Stochastic Oscillator momentum indicator is showing a bearish signal on the daily charts, doing correction after last week's advance. Meanwhile, the pair is trading at 1.5232 after hitting a high of 1.5291 and a low of 1.5221 while it is expected to move between support at 1.5170 and resistance at 1.5295.
Relative to the dollar-yen pair, it fell today to stop its rally as the pair is correcting after the yen dropped to seven-month low against the dollar where the pair is still traded in an overbought area. The pair is currently trading at 94.47 after reaching a high of 94.78 and a low of 94.28, whereas support is seen at 93.75 while resistance is at 95.65.