Optimism brought losses for the Japanese yen |
As policy makers around the world are believed to be on their way to pump more liquidity in the financial markets, demand on higher yielding assets increased since investors’ appetite improved, driving the dollar and the yen higher aginst ma=jor currencies like the euro and the pound.
The euro traded during today’s Asian session against the dollar around the level 1.3770, recording the highest at 1.3792 and the lowest at 1.3734. On the other hand, the pair faced a support at 1.3720 that contributed into ending the downside movement of the pair. The daily momentum indicators show the pair in an oversold area, while the four hours indicators give selling signs.
The pound recorded today a high of 1.6020 and a low of 1.5964. Now the pair trades around 1.5977 and now it faces a support at 1.5960. The daily momentum indicators give selling signs.
The yen fell against the dollar during the Asian session, recording a low at 81.54 and a high at 81.87. Now the pair trades around 81.84, facing a resistance at 82.00. The daily and four hours momentum indicators show the pair in an oversold area, yet the chances for an upside movement remain valid.
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