Members login
US dollar continues its incline versus Japanese yen
Written by article default Wednesday, 17 November 2010 06:29
The American dollar is still trading near a six-week high versus the Japanese yen, after Atlanta Federal Reserve announced that additional bonds purchases by the central bank aren't purposed to weaken the dollar. On the other hand, the third quarter of the year has witnessed an improvement in U.S. retail sales, pushing the greenback to rise.The euro dropped against the dollar during today’s Asian session, trading in narrow range around the level 1.3500, recording a low of 1.3498 and a high of 1.3515. On the other hand, the pair faces a support at 1.3480, as the pair declined. The daily and four hours momentum indicators show the pair in an oversold area, which may stop a downside movement.
The pound dropped against the dollar during the Asian session, recording a low of 1.5874 and a high of 1.5899, and now it trades around 1.8552, where the pair faces a support at 1.5855. The daily momentum indicators show the pair in an overbought area, while the four hours momentum indicators show the pair in an oversold.
The dollar/yen pair inclined during the Asian session, recording a high of 83.42 and a low of 83.35. Now the pair trades around 83.38, facing a resistance at 83.55. The daily and four hours momentum indicators show the pair in an oversold area, yet the chances for an upside movement remain valid.