The monthly resistance level at 111.20 pressurizes the USD/JPY currency pair downwards on Tuesday.
Bearish momentum should still be the dominant force today.
Traders should watch the 55- and 200-hour SMAs at 1.3120.
A breakout from the 100-hour SMA should be followed by a further fall.
Technical indicators suggest that bears might continue dominate the pair today.
Gold is starting to show some signs of a recovery.
The fresh weekly S1 has managed to provide enough support to push the currency exchange rate higher.
The Pound is likely to be bound by several SMAs today.
The Euro has remained stable against the Greenback this morning, as the pair has approached a strong resistance cluster.
A breakout from 112.10 should be the beginning of another decline.
The Pound continues to trade sideways against the Greenback since mid-THursday.
It is likely that the strong resistance cluster near 1.17 pressures the Euro back lower today.
Gold is starting to show some signs of a recovery.
The strengthening of the US Dollar early today has pushed Gold even lower down to 1,222.00.
The US Dollar bounces off the 55-hour SMA with a surge early on Thursday.
The combined resistance of the 55-, 100- and 200-hour SMAs should limit gains above 1.17 during the following trading sessions.
Strong bearish sentiment has pushed the Pound back to its 2018 low.
The Euro is likely to accelerate from the 200-hour SMA.
The 200-hour SMA is likely to guide the pair in this session.
A surge is expected to follow if the 200-hour SMA at 1.17 is breached.
The 200- and 100-hour SMAs are likely to guide the pair in this session.
The decline of the bullion started later than expected on Thursday. However, it still trades in a descending channel pattern.
The rather weak junior ascending pattern of the USD/JPY remains in force. Namely, the rate continues to surge on Friday,
On Thursday the main effort in analysing the GBP/USD was spent marking the new junior descending pattern.