The yen rises by the end of the year

By @ibtimes on

The Japanese yen rose against the dollar and other majors, as investors started securing their financial positions before the holidays, where the yen inclined during the Asian session as a safe-heaven currency prompting investors to buy other majors as well.

The euro/dollar pair traded in a narrow range during today's Asian session and now the pair trades around 1.3111, recording a high of 1.3121 and a low of 1.3099. The pair now faces a support at 1.3080, where the daily momentum indicators show the pair in an oversold area, while the four hours indicators support the pair's incline.

The British pound/dollar pair inclined during the Asian session, trading around 1.5419, recording a high of 1.5422 and a low of 1.5394. The pair now faces a resistance at 1.5460 then at 1.5500. The daily and four hours momentum indicators support the pair's incline since it reached an oversold area.

The dollar/yen pair declined sharply today, while the pair trades around the level 83.16, recording a low of 83.05 and a low of 83.56. The pair faces a support at 82.80; meanwhile momentum indicators show the pair in an overbought area, which favors a downside movement.

Join the Discussion