The dollar and the Japanese yen returned to rise and control the currency markets, as the drop in Japanese exports during July in addition to the expected decline in the performance of the industrial sector in the United States, increased the demand for safe haven currencies. The euro retreated against the U.S. dollar during today's Asian session. The EU currency is trading as of this writing at 1.4405 after recording the highest of 1.4428 and the lowest of 1.4380. On the short term the currency faces a support at 1.4370 while the momentum indicators show the pair is in an overbought area. The pound retreated against the U.S. dollar during today's Asian session touching the lowest of 1.6493, after it recorded the highest of 1.6533, and as of this writing it is trading at 1.6520. On the short term the currency faces a support at 1.6470 which could support the downside movement for the pair, despite the momentum indicators show the pair is in an overbought area. The dollar/yen pair dropped today where it reached to its lowest at 76.70 level, the pair now is trading at 76.56 recording the highest of 76.52. Momentum indicators show the pair in an oversold area, yet the pair ignores those signs.

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