In addition to major currency pairs, among the currency pairs that stole the focus of traders this week were GBP / JPY.
The Yen movement has been driven by market sentiment since last week with risk-on sentiment earlier this week giving investors confidence that safe-haven trading has declined.
Similarly, the Yen currency showed poor performance against other major currencies including the Pound Sterling.
The pound traded sensitive for several weeks giving a critical reaction to Brexit negotiations that still failed to reach a final agreement.
However, the recent positive developments in the negotiations have supported the Pound to push the price on the GBP / JPY chart to the latest highs this week above the highs reached last week.
The start of trading earlier this week has seen the price rise from the RBS zone (resistance become support) 138.00 and pass the RBS zone 139.00.
On Tuesday's trading, the price tested the resistance level of 139,800 before descending back to the RBS 139.00 zone.
The New York session once again showed a price spike past the resistance zone closing the trade at the latest high of resistance at 140.200.
The resistance level was also tested in November trading but failed to break before the price dropped again.
Continuing trading today (Wednesday), the price moved horizontally in the Asian session below the level of 140.200 before the resistance level was tested again at the beginning of the European session.
The continued rise in prices is expected to lead to the latest 3-month highs up to around 141.00.
However, if the price returns to lower the 139.800 level, it will head back to the RBS 139.00 zone.
The lower decline will return at the start of trading earlier this week in the RBS zone 138,300.
