BoJ’s possible intervention dragged the yen down |
The yen fell against the dollar and other majors during today’s Asian session on increased expectations that BoJ is on its way to intervene again in the currency market this week, in order to lower the yen’s value since it brought so much damage to the country’s exports.
The euro rose against the dollar during the Asian session trading over the level 1.3950, recording a high of 1.3996 and a low of 1.3894, and now it faces a resistance at 1.4000 which might weaken the upside movement of the pair. The daily momentum indicators show a possible rise yet the four hours momentum indicators show the pair in an overbought area.
The pound rose against the dollar during the Asian session, recording a high of 1.6068 and a low of 1.5987, and now it trades around 1.6055 where the pair faces a resistance at 1.6100. The daily and four hours momentum indicators show the pair in an overbought area which may favor a downside movement.
The yen fell against the dollar, recording a high of 81.43 and a low of 80.39, and now it trades around 80.58 where the pair will face a support at 80.40. Daily and four hours momentum indicators show the pair in an oversold area which favors an upside movement.
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