The pair was highly volatile today as it fluctuated for about 120 pips and the market was still unable to define the value of the Aussie.
The EUR/JPY tumbled 189.69 pips today to meet the daily low at 137.005.
Following a strong jump above the weekly R1 to hit $1,244, Gold lost the vast part of its yesterday's gains to fall even below the monthly R1 and close the day at $1,234.
Despite the odds against, the Yen keeps gaining ground against the US Dollar.
The monthly S3 at 1.5145 continues to underpin the Cable that in turn keeps trading sideways.
It seems that bears gained some strength around the level of weekly PP at 1.1857, as the EUR/USD dropped on Tuesday below 1.18 and went even further down.
The NZD/USD traded almost identically the same, in comparison with the previous day.
The USD/CAD pair fluctuated between the weekly R2 and R1 at 1.198/ 1.1924, respectively.
The pair remained flat on Tuesday, trading in a zig-zag motion and spiking from the 4– hour 55– and 100– SMA cross.
The Euro continued to depreciate for the fourth consecutive day versus the Yen on Tuesday, sliding closer to the weekly S1 level at 138.96.
A strong bullish tendency for Gold continued on Monday, as XAU/USD cross passed through a major resistance line represented by the monthly R1 at $1,233, as well as the 38.2% Fibonacci retracement just below it.
Without the fundamentals to drive the pair, USD/JPY stayed unchanged just above 118.
For the time being the monthly S3 level acts as a support, having prevented depreciation of the Sterling yesterday.
On Monday, the EUR/USD currency pair remained broadly unchanged due to lack of impetus on either bullish or bearish side.
The NZD/USD pair cut some previous gains and tumbled today from 0.786 to 0.773.
The Japanese Yen regained some losses from the Fridays' dive.
The cross managed to break the weekly R1 resistance level at 1.1924 on Monday, linking to the USD strength
Monday showed a significant dive from the previous high where the monthly PP weekly R1 are located at 0.826.
After two days of Gold's correction, provided by the long-term downtrend line around $1,220, XAU/USD received a strong bullish impetus from the weekly pivot point / 100-day SMA and jumped more than $15 per ounce to cross the mentioned resistance.
Yet again USD/JPY failed to sustain a recovery, but this time already in the vicinity of 120 rather than near the December highs at 121.
Although GBP/USD seems to have found support ahead of 1.50, the risks are still considered to be skewed to the downside.
Following seven days of consecutive losses for EUR/USD, on Friday the pair managed to erase some of them, as a demand area around 1.18 pushed the Euro to the north.
The USD failed to upbeat the NZD in its value recently and the pair continued its upward move during the whole week.
The cross ticked higher today, forming the daily high at 1.188, the monthly R2.