The yellow metal began Wednesday's trading above the weekly R1 at 1,242.38, which began to provide support by the end of Tuesday's trading.
Risk-aversion was driving the markets yesterday, causing the USD/JPY pair to drop for the sixth consecutive day.
The strong UK inflation data yesterday helped the British currency to strengthen further against the US Dollar, ultimately causing the nine-month down-trend to be pierced.
During the early hours of Wednesday's trading session the common European currency against the Greenback fluctuated just below the weekly R1, which is located at the 1.0814 level.
During the first half of Tuesday's trading session the New Zealand Dollar remained near the previous closing price of 0.7050 against the US Dollar.
By the middle of Tuesday's trading session the US Dollar against the Canadian Dollar remained above the support cluster near the 1.33 mark, which kept the rate from declining for the past four trading sessions.
The Australian Dollar behaved in accordance with expectations yesterday, being that it managed to edge higher, but was unable to breach the immediate resistance area.
Monday ended with the Euro weakening against the Yen again, but with no significant level getting pierced.
During the early hours of Tuesday's trading session the yellow metal's price declined and fell below the 1,230 mark.
Even though the USD/JPY pair remained relatively unchanged yesterday, a small bearish development was still sufficient for the exchange rate to stabilise below the ascending channel's support line.
On Monday, the GBP/USD currency pair experienced a small bearish correction, after having surged for three consecutive days last week.
On Tuesday morning the common European currency surged against the US Dollar and managed to break through the resistance put up by the monthly R1, which is located at the 1.0772 level.
By the middle of Monday's trading session the New Zealand Dollar had managed to surge above the 0.7070 level against the US Dollar and retreat below the 0.7050 mark.
During the first half of Monday's trading session the US Dollar depreciated against the Canadian Dollar, as the currency exchange rate was about to pass the support cluster below it, just above the 1.33 mark.
Last Friday, the AUD/USD pair behaved in accordance with expectations, having erased most of Thursday's losses.
The European single currency weakened against the Japanese Yen on Friday, experienced relatively sharp losses.
On Monday morning the yellow metal's price continued its way higher, as the bullion traded above the 1,230 mark.
The Greenback suffered another loss on Friday, edging 60 pips lower, thus, providing the ascending channel's lower boundary with an additional confirmation.
The Cable managed to unexpectedly recover from its intraday low on Friday, ultimately ending trade in the green zone.
During the early hours of Monday's trading session the common European currency once more attempted to break higher against the Greenback.
During the first half of Friday's trading session the New Zealand Dollar against the US Dollar fluctuated between two levels of significance around the 0.70 mark.
By the middle of Friday's trading session the Canadian Dollar was making another attempt to appreciate against the US Dollar.
On Thursday, the AUD/USD currency pair underwent the expected correction, with trade closing at the anticipated point as well.
Although the Euro managed to reclaim the 122.00 yen level on Thursday, it was unable to maintain trade at this area, ultimately falling under strong selling pressure on Friday.