The breaching of the 55-hour SMA is likely to be followed by bearish momentum.
On Tuesday morning after a couple of more attempts to surge above the 1,350 mark, the metal's price had remained near the 1,340 mark.
On Tuesday it could be seen that the US Dollar had scored new low levels against the Japanese Yen.
Bearish pressure should prevail during the second part of the day.
The pair continued to push higher on Tuesday morning; however, this upward momentum should allay during the following hours.
The bullion almost touched the 1,350 mark in the last 24 hours.
The US Dollar has continued to decline against the Japanese Yen. However, on Monday morning it seemed that the decline had ended.
The 55-hour SMA is likely to continue guiding the Sterling.
Despite the resistance of the 55- and 100-hour SMAs, there is some upside potential apparent in this session.
After a short period of decline, the USD/JPY exchange rate picked up bullish momentum.
The Sterling should be guided by the 55-hour SMA in this session.
EUR/USD is likely to remain between the 55- and 200-hour SMAs today.
After piercing the 23.60% Fibonacci retracement level, the XAU/USD pair began to gain strength.
The bullion's price has surged like a rocket. All patterns have been broken and a full review of the Technical Analysis aspect will be done.
On Thursday the situation on the USD/JPY chart had changed. Namely, the currency exchange rate had been pushed lower by the 55-day SMA.
The pair is supported by the 55-hour SMA which might hinder the expected decline today.
The common European currency continues to move in a short-term ascending channel.
The Sterling managed to shot up to a senior trend-line circa 1.4220 early today, so a reversal might occur.
The Sterling managed to shot up to a senior trend-line circa 1.4220 early today, so a reversal might occur.
The yellow metal's price has found support in a previously active channel's support, which was considered previously obsolete.
On Wednesday morning the USD/JPY currency exchange rate remained near the previous week's end levels.
On Tuesday morning it could be observed that the commodity price had bounced off the support of the combination of all three SMAs that are used by Dukascopy analysts.
Compared to Monday's trading session the USD/JPY currency pair had surged in a sudden jump, which lasted two hours at midnight.
The pair is expected to respect a two-week channel and edge lower.