The Asian trading session on Monday indicated that the U.S. Dollar is rising in comparison to the Yen. A closer look at the trends, showed that USD/JPY is ahead 0.95% at a value of 98.46 following previous trading as high as a value of 98.85, the highest position observed in almost four years. The pair is likely to locate support at 95.73, which was Friday’s low and find resistance at 98.88 that was the high of June 5, 2009. Following the announcements from Bank of Japan about its plans for doubling the asset purchase program, and extending the maturities of the bonds bought, the yen was seen to have slid more than a value of 3%, in comparison with the U.S. Dollar, on Thursday. Traders are also awaiting the details related to the monetary policy meeting, that the BOJ is expected to publish tomorrow.
EUR/JPY is ahead 0.80% at a value of 127.85 whereas AUD/JPY climbed 0.72% to 102.08. NZD/JPY increased 0.61% to 82.77.
The U.S. Dollar is also seen to be trading at higher trends in comparison to the Euro during the Asian trading session on Monday, in an environment of concern related to the Portugal’s financial stability. The details about the trading session indicated that EUR/USD is at a lower position by 0.10% at 1.2992. The pair was expected to locate support at 1.2747, which was Thursday’s low, and discover resistance at 1.3039 that was Friday’s high.
EUR/AUD is at an increased level 0.10% at a value of 1.2528 whereas the currency pair EUR/GBP is at a decline 0.04% at a value of 0.8472.
In Asian trading session on Monday, it was observed that the currency pair EUR/USD is at lower position by 0.07% at a value of 1.2995 following statements from the Portuguese Prime Minister Pedro Passos Coelho that the government will have decrease spending.
The currency pair GBP/USD is off 0.05% at value of 1.5338 whereas USD/CHF is ahead 0.02% at a value of 0.9343. USD/CAD is lower by 0.02% at a value of 1.0172 as oil prices trade to the upside slightly. The AUD/USD is lower 0.18% at 1.0373 whereas NZD/USD is off 0.22% at a value of 0.8416.