The British pound recorded a modest rise against the US dollar on Wednesday. The session started at 1.3188 and the pair added 16 pips. Graphics continued to grow below moving averages, while the relative strength index remained neutral. Attitudes remain positive, with more serious testing than the current 1.3260.
The dollar fell against the yen. The USD/JPY fell by 0.08% to 113.65 after the maximum of 114.24 in three weeks, which was fixed on Wednesday. In recent sessions, the dollar received support amid forecasts of tax reform in the US, strengthened after the Senate approved changes in the budget that would allow Republicans to adopt a tax reduction program without the support of the Democratic Party.
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The dollar / yen attempted to decrease yesterday with a bottom of 113.53, but closed higher at 114.07. Expectations are neutral in short terms, possibly with light bullish signals for resistance testing 114.50, which remains a good place for short positions with narrow stops. A clear breakthrough over this area may clear the path to 115.50 or higher. Support for the day remains 113.75. A clear break below it can take the price to a neutral zone with testing at 113.20. I'm basically neutral.
The US dollar was down against the Japanese yen on Friday morning. During the Asian trading, USD / JPY was trading at 114.01, having lost 0.06%. I believe that support is now at 112.97, Tuesday's low, and the resistance is likely to come in level 114.30 - the maximum of Wednesday.
The US dollar was up against the Japanese yen on Friday. By the close of US trading, USD / JPY is trading at 114.08, gaining 0.001%. I believe that support is now at 112.97, Tuesday's low, and resistance is likely at 114.43, the high of Friday's trading.
On Friday, the rate of the US dollar went to growth after the release of reports on the volume of industrial orders in the US and business activity in the services sector, which made investors forget about the weaker earnings report in the United States than in the forecast.
The dollar remained stable against the yen: the pair USD / JPY was trading at 114.07 after a fall during the trading session.
Next week, investors will continue to monitor progress in US tax reform, but from the standpoint of economic reports, this will be a relatively quiet week.
The US dollar recorded a rise against the Japanese yen on Tuesday. The currency pair opened at 113.69 and the price bounced from the resistance at 114.30. After all, the dollar ended at 113.99 and the levels at 114.30 again resisted the rise of USD / JPY. In view of the prevailing positive attitudes in the short term, their overcoming will be indicative of additional growth.