Home EURUSD, GBPUSD, USDJPY Pivot Points, TA – Mar. 25 2015
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EURUSD, GBPUSD, USDJPY Pivot Points, TA – Mar. 25 2015

EURUSD Daily Pivots

R3 1.114
R2 1.1084
R1 1.1001
Pivot 1.0945
S1 1.0862
S2 1.0806
S3 1.0723

 EURUSDH1_2503 technical analysis pivot points forex trading currencies

EURUSD broke out from what looks like a still forming triangle consolidation pattern. If the daily pivot level, manages to hold the rallies, then on break of 1.089 we could expect to see further declines on the cards, preferably targeting 1.073 levels, which is supported by the trend line of the rising price channel. Despite this decline, the EURUSD would still be looking bullish on the medium term.

USDJPY Daily Pivots

R3 120.835
R2 120.407
R1 120.069
Pivot 119.648
S1 119.31
S2 118.882
S3 118.544

USDJPYH4_2503 technical analysis pivot points forex trading currencies

USDJPY is still weak but the bearish momentum is showing signs of cooling down, which could point to a possible test to the upside near 120.16 the most immediate resistance overhead. The pair managed to find support near 119.5 levels marking a small reversal. A break of this previous low could spell further declines in the USDJPY with the eventual goal targeting 118.414 levels in the near term. However, the failure to retest any of the breakout levels does pose a risk for a possible rally to the upside, anywhere between 120.16 through 120.465.

GBPUSD Daily Pivots

R3 1.5079
R2 1.5031
R1 1.4938
Pivot 1.4889
S1 1.4796
S2 1.4748
S3 1.4655

GBPUSDH4_2503 technical analysis pivot points forex trading currencies

GBPUSD made another attempt yesterday to break above 1.49 but failed to do so, finding resistance near 1.49556 levels to close the day back in the range of 1.495 through 1.482. The currency pair is now currently poised to dip lower towards 1.482 on break of the minor support at 1.485, following which a test to the previous lows of 1.47225 cannot be ruled out. The upside momentum seems to be losing steam but the test to 1.482 will be crucial to pave way for future direction on this currency pair.

John Benjamin

John Benjamin

John is a market analyst for Orbex Ltd. and is a forex and equities trader having been involved in trading since late 2009. John makes use of a mix of technical and fundamental analysis and inter-market relationships. The analysis present here is a mix of intra-day analysis while considering the long term outlook of the markets as well. For any comments or questions, John can be reached at [email protected]