Yesterday's decline in the USD/JPY pair's exchange rate was the last touch required in order to establish a descending channel pattern.
Although the British Pound successfully posted some gains against the American Dollar on Thursday, risks remain skewed to the downside.
During the early hours of Friday's trading session all of the technical analysis of the EUR/USD currency exchange rate experienced a shock.
Contrary to the rest of the market, the Kiwi scored gains against the US Dollar on Thursday.
The US Dollar fell at the start of Thursday's trading session against the Canadian Dollar.
The Aussie weakened against the US Dollar on Wednesday, but retained its position above the 0.7160 psychological support.
Yesterday the Euro once again failed to climb over the 123.00 major level, resulting in a mild bearish development of 75 pips.
The yellow metal's price jumped on Thursday morning and reached once more the second weekly resistance at 1,150.18.
After a rather strong six-week rally the USD/JPY currency pair began to slide down, being in a bearish trend for two weeks now.
Wednesday ended with the British Pound weakening against the US Dollar again, this time piercing the monthly S1.
The common European currency surged on Thursday morning against the US Dollar, as it once more reached the 2015 low level.
HKD/JPY surged from all time lows to all time highs over a period of four years, posting an ultimate ground at 9.8074 and showing major supply at 16.0363. Recent resistance lies at 13.0451 and has denied access to levels below for two consecutive times, setting distinctive bounds for predicting the somewhat ranging motion. The weekly chart shows that the pair
The Kiwi continued to trade sideways for the fifth consecutive session against the US Dollar, as the currency exchange rate continued to bounce around the 0.69 level.
The AUD/USD currency pair appears to be unable to reclaim the 0.72 major level, which in turn is bolstered by the monthly S1 and the weekly PP.
The EUR/JPY entered a phase of consolidation, being anchored around the 122.50 level for nearly four weeks now.
The yellow metal traded above the 1,140 mark on Wednesday morning.
The common European currency surged and broke the resistance put up by the 2015 low level at 1.0462 against the US Dollar on early Wednesday morning.
Once again the GBP/USD currency pair remained relatively unchanged, retaining its position below the 1.23 mark.
Demand, represented by the 117.00 major level, appears to have been sufficient to prevent the USD/JPY pair from suffering more losses yesterday, as it did during the previous week.
The US Dollar had slightly surged against the Canadian Dollar by the middle of Tuesday's trading session.
The Australian Dollar gave back ground to the Greenback during the first half of Tuesday's trading session, as the currency exchange rate had fallen and touched the 0.7173 level.
The Kiwi depreciated by the middle of Tuesday's trading session, as the rate once more fell below the 0.69 mark, against the US Dollar.
The common European currency bounced around the weekly pivot point, which is located at 122.54, against the Japanese Yen.
The US Dollar did not depreciate further against the Japanese Yen on Tuesday. A fall of the currency exchange rate was indicated by the technical data.