The dollar's decline was quite fast, particularly last week, so it's very likely we will see a correction upward. Sentiment remains bearish for the dollar, but the currency needs to rebound first.

188

We could have hit-and-run moves by speculators trying to break those levels around 117.30-117.35. This meeting could be a milestone in Japanese history so it's hard to push the yen lower even if rates don't rise soon.

159

These two currencies see an overbought condition against the dollar and technically may face some slides for now. Their rising trends will remain in place but we need to have a downward correction first.

147

While the U.S. interest rate outlook is supportive of the dollar, people are reluctant to buy it from here because of Japanese GDP. There's also a lot of concern that if commodities continue falling, hedge funds will have to buy back even more yen to unwind their carry trades.

140