The early hours of Wednesday experienced the bullion breaking one resistance level after another, as the various SMAs and a Fibonacci retracement level where passed.
The Buck has failed to breach the resistance against the Japanese Yen, which was mapped on Monday, as the long term descending trend line has held the ground.
On Tuesday the bullion continued its retreat, as the US Dollar gained strength amid a massive equity sell off.
The US Dollar has extended its gains against the Japanese Yen on Tuesday morning, as the currency exchange rate reached above the 106.50 mark.
The US Census Bureau revealed on Friday that the US building permits data did not meet expectations, showing the growth pace of only 1.30M units in February, following the downwardly revised 1.38M reading in the prior month.
The Euro strengthened against the Greenback, following the release of the EU trade balance report.
During the middle of Thursday's trading the yellow metal ignored the various support levels near the 1,325 mark and began a decline.
The USD/JPY has continued lower on Monday until it suddenly moved to the upside.
The US Census Bureau revealed on Friday that the US building permits data did not meet expectations, showing the growth pace of only 1.30M units in February, following the downwardly revised 1.38M reading in the prior month.
The Greenback weakened against the European single currency, following the release of the US building permits report.
During the middle of Thursday's trading the yellow metal ignored the various support levels near the 1,325 mark and began a decline.
After making an attempt to break the combined resistance of the hourly SMAs, the USD/JPY pair booked a new low level on Friday.
The three simultaneously released reports created small increase in volatility in the financial currency market.
The Greenback fluctuated based on the releases of the controversial reports from the Federal Reserve Bank of New York and Philadelphia and the US Department of Labour on Thursday.
On Thursday the main new information in regards to the yellow metal prices is the reveal of new patterns.
The recently discovered channel up pattern has been already broken. The reason was a fundamental one.
The US Census Bureau revealed on Wednesday that US retail sales data did not meet the expectations, instead the gauge fell by 0.1% in March, continuing the slowdown in the first quarter of 2018.
The Greenback strengthened against the single European currency, following the release of US retail sales report.
The Greenback weakened against the single European currency, following the release of US consumer price index data.
The US Bureau of Labour Statistics revealed on Tuesday that February consumer price index hit the forecasts, rising at a 0.2% pace, following the 0.5% up-move recorded in the previous month.
The recent fall of the US Dollar has caused the yellow metal's price to surge to the 1,330 mark.
Tuesday saw a large increase of volatility in the USD/JPY currency exchange rate.
As it seemed that the bullion was set to break through the last notable resistance on the hourly chart, the resistance beat the bullions price back down below the 1,320 mark.
After a period of decline the USD/JPY currency exchange rate has resumed the surge and reached new high level.