This trading week is likely to end calmly as all crucial economic reports have already been published. This is why traders refrain from active trading, looking for a new week and fresh economic data. However, the main trading instruments of the Asian session did not stand still. Let’s discuss the results of today’s Asian session.
The US dollar index is gradually declining from its annual highs. At the beginning of the week, it managed to reach 96.10. Now, the index is trading at 95.60. Despite its current weakness, many analysts expect the US dollar to remain strong as a safe-haven asset. Given the slowing global economic growth and the tapering of the quantitative easing program, this scenario looks likely. However, in the short term, the index may consolidate near the support level of 95.20.
Meanwhile, the yen slid down, trading sideways against the US dollar. For the second day, the dollar/yen pair has been hovering around 114.30. However, analysts note that now, there are clear signs of a downward trend on the chart. If so, the quotes may tumble below 114.20 today. Apart from that, the pair may lose ground due to a correction of the US currency. At the same time, the yen could strengthen a little bit on the back of the greenback’s correction. However, some analysts doubt it because the economic situation in Japan has worsened significantly.
The Australian dollar is trying to enter the correctional stage. We have been saying for some time that the Aussie is likely to assert strength versus the US dollar. Many traders have doubted such a scenario. However, technical indicators signal a possible trend reversal. In the short term, the pair is likely to rise to 0.7300. Before that, it may trade sideways for some time, gathering strength to break through the resistance level.
So, the Asian session turned out to be quite calm. That’s all for now! Subscribe to our channel and leave the comments down below. We will be happy to answer all your questions. See you!

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