During the early hours of Monday's trading session the yellow metal's price had surged above the 1,210 mark, as the bullion continued the course of regaining its losses.
"We believe the USD/JPY will edge upward to the ¥115-120 level not in a straight line but with some fluctuation over the coming 3-6 months." – Deutsche Bank (based on FXStreet) Pair's Outlook The Greenback failed to appreciate against the Japanese Yen on Friday, therefore, preserving the ascending channel's resistance line. The pair failed to reclaim the 115.00 major level, which suggests
Even though the US NFP data came out strong on Friday, the earnings growth still disappointed, bringing doubts over a March rate hike, thus, turning the tide on the Greenback's rally.
Due to comments from the president of the European Central Bank, Mario Draghi, the common European currency jumped against the US Dollar in the recent trading sessions.
The New Zealand Dollar regained strength against the US Dollar during the first half of Friday's trading session, as the currency exchange rate approached the resistance put up by the weekly S2 at the 0.6956 level.
The Greenback lost ground against the Loonie on Friday, as the currency exchange rate failed to break the resistance cluster located above it, near the 1.3225 level, during Thursday's trading session.
The AUD/USD currency pair continued to slide down yesterday, yet was unable to close below the 0.75 psychological level.
The ECB Draghi's hawkish speech yesterday strengthened the European single currency against a basket of currencies, including the Japanese Yen.
During the early hours of Thursday's trading session the yellow metal's price slipped even further lower, as the price reached below the 1,205 level.
For the third consecutive day on Wednesday the US Dollar outperformed the Japanese Yen.
The Cable managed to retain its position on Thursday, as the lack of potential market movers contributed to relatively flat trade.
The common European currency traded near the 1.06 mark against the US Dollar on Friday morning.
Wednesday, as expected, was another day of consolidation, being that the EUR/JPY pair remained relatively unchanged, even though rather strong volatility was seen.
By the middle of Thursday's trading session the New Zealand Dollar managed to book a new record low level against the US Dollar.
The Canadian Dollar continued to lose value against the Greenback, as the currency exchange rate surged higher by the middle of Thursday's trading session.
A better-than-expected US ADP Employment Change reading strengthened the US Dollar substantially, causing the AUD/USD pair to drop 60 pips on Wednesday.
During the early hours of Thursday's trading session the yellow metal's price slipped even further lower, as the price reached below the 1,205 level.
A positive reading of the US ADP Non-Farm Employment Change provided the US Dollar with a boost yesterday, allowing it to put the tough resistance around 114.60 to the test.
Wednesday was another negative day for the British currency, being that it edged lower against the Buck again.
On Thursday morning the common European currency continued to depreciate against the US Dollar, as the currency exchange rate passed another notable level of support.
By the middle of the trading session on Wednesday the New Zealand Dollar had failed to find support in the weekly S1, which is located at 0.6956, against the US Dollar.
During the first half of Wednesday's trading session the Greenback stopped the previous almost flat fluctuations against the Canadian Dollar and broke the resistance put up by the monthly R1, which is located at 1.3417 level.
Even though the Australian Dollar appreciated against the US Dollar on Tuesday, the weekly PP still managed to limit the losses, forcing the pair to negate most of intraday gains.
Tuesday ended with the single European currency remaining almost completely flat against the Japanese Yen, having lost less than 10 pips.