Friday's first half of trading saw the USD/JPY surge above the 109.10 level.
EUR/USD is likely to be affected by moving averages in this session.
Technical signals are more in favour of the bearish scenario for the Pound today.
The commodity price has breached the upper trend line of a large scale descending channel down pattern.
The USD/JPY currency pair has encountered the resistance of the 55-hour SMA, which forced the rate lower.
A strong surge early on Thursday resulted in a breakout of the 200-hour SMA and a channel line.
The Pound continues to edge higher in this session.
The yellow metal had declined down below the 1,300 mark on Wednesday.
On Wednesday, the USD/JPY currency exchange rate traded above the weekly S1 at 108.44.
The Pound tries to recover after a fall on Tuesday.
The common European currency managed to regain some lost positions on Wednesday morning; strong resistance ahead.
Due to the decline of the US Dollar across all charts, the commodity price of the yellow metal has surged on Tuesday.
The US Dollar has extended its decline against the Japanese Yen on Tuesday.
The Pound still pressured lower by the 55-hour SMA.
Political uncertainty in Italy continues to weigh heavily on the common European curreny.
After booking large gains at the end of the last week, on Monday morning the yellow metal once more traded below the 1,300 mark.
Even though the Friday's trading session ended at a strong resistance, the rate passed it by opening a lot higher on Monday.
Bullish sentiment should prevail today; however, gains should not surpass the 1.3380 mark.
It seems that the 100-hour SMA at 1.1725 is likely to provide strong resistance in this session.
The yellow metal has finally succeeded in breaking above the 1,300 mark.
The Friday's trading session seemed to book the end of the US Dollar's decline against the Japanese Yen.
The common European currency still remains under pressure by the 55-hour SMA.
The Sterling moves along the 55-hour SMA for the second consecutive session.
On Thursday morning the yellow metal's price made another attempt to approach the 1,300 mark.