The Japanese yen rose against majors today, on speculations the U.S. banks will incur more losses, which had revived demand on the yen as safe haven currency. On the other hand, the U.S. dollar slightly declined against a basket of six major currencies, as indicated by the dollar index, which is now at 78.66 compared with today's opening at 78.71.
The euro-dollar pair is consolidating on the daily and 4-hour charts. The Annual GDP released today in the euro zone for the second quarter; showed an incline in contraction to 4.7% from 4.6%; while PPI for July, recorded the strongest fall in 27 years. Meanwhile, the euro is traded at 1.4224, recording a high of 1.4247 and low of 1.4187, where the pair is supported by 1.4205 and faces the coming resistance of 1.4235 then 1.4247.
The sterling-dollar pair is moving sideways on the daily and 4-hour charts. U.K. released its PMI construction today; showing improvement and causing the pound to inch up to 1.6150. So far, the pound is traded at 1.6154; setting a high of 1.6192 and a low of 1.6112; while the coming support for the pair is seen at 1.6130 and the resistance is spotted at 1.6180.
Finally, the dollar-yen pair is continuing its downside trend on the daily charts. The pair is heading towards a full downside correction to the upside trend, which started on July 13; according to the Fibonacci retracement tool. The pair is also showing a decline on the 4-hour and 1-hour charts. Now, the pair is trading around 92.64, after hitting a high of 93.07 and a low of 92.36; while the pair is currently facing the coming support level at 92.50, while the resistance is spotted at 92.72.