The previous forecast for the EUR/JPY came into reality at the start of Thursday's trading session.
Yesterday the American Dollar continued to strengthen against the yellow metal and even managed to form a little descending triangle, whose lower support line matched with the upper boundary of a former long-term ascending channel.
Fortunately for the buck, both data releases were even better that analysts anticipated. Even though they did not arouse especially high interest, but it was still enough to push the currency pair out of the channel.
In line with expectations, yesterday the exchange rate continued to move towards the 100-hour SMA amid a pressure from a combination of the weekly R1 and the monthly S1 as well as from release of the US macroeconomic data.
As it was expected, during the whole previous trading day the currency exchange rate was moving in ascending channel.
After reaching the 0.7300 mark mid-Tuesday, the New Zealand Dollar gradually lost its value against the Greenback and failed to form another up-wave.
The bullish market sentiment prevailed on Tuesday's session, resulting in a breakout of the 55– and 100-hour SMAs and the weekly PP.
During the last 24-hours, AUD/USD managed to test the upper channel boundary on two occasions and thus reach a new peak in the process.
The European common currency appreciated 50 pips on Tuesday, thus reaching the upper wedge boundary circa 131.50 late in the evening.
Yesterday the buck quite expectedly appreciated against the gold. However, this movement was rather based on reaction from release of data on the US CB Consumer Confidence than some technical factors.
Among all major currency pairs, the greatest impact from a release of information on the US CB Consumer Confidence suffered the Yen, which lost 1.13% in value in seven hours.
Yesterday the given pair moved quite similarly to the Euro and gold. The first half of the day it spent in a surge but, after reaching certain point, changed a direction and started to decline until the 55-hour SMA.
In line with expectations, the currency exchange rate has successfully crossed a combination of the weekly and monthly R1 near 1.2010 and then made a rebound.
The New Zealand Dollar managed to exit a consolidation period that characterised the pair's movement on Monday when the rate surged and passed through the 55– and 200-hour SMAs.
Even the massive leap both directions apparent during the last 24-hours could not disrupt the boundaries of the descending channel.
The Australian Dollar accelerated against the Greenback mid-Monday and reached the weekly R1 at 0.7973 mark.
Following a minor appreciation during the most part of Monday's trading session, the Euro plunged against the Yen late in the evening, thus resulting in a 82-pip fall in two hours.
During the whole previous trading day, the yellow metal was continuing to appreciate against the US Dollar.
In result of a new ballistic missile test conducted by North Korea, the American Dollar lost 0.57% against the Japanese Yen just in two hours.
Fortunately for the Pound, the eight-hour downfall was stopped already near the 1.2880 level.
The common European currency is continuing to advance against the US Dollar, using an upside momentum that was provided by the Jackson Hole Symposium.
If one ignores the short term touch of the 0.7260 mark, the NZD/USD currency pair trades in a perfect short term ascending channel pattern.
The US Dollar has decline and trades below the 1.25 mark against the Canadian Dollar on Monday. The mark was reached much faster than expected. However, that has not done harm in most cases.
The Australian Dollar was rebounding against the US Dollar, and the rate was revealing the borders of a short term pattern. However, the situation changed fast when Janet Yellen influenced the rate by giving her speech at Jackson Hole.