EURUSD Daily Pivots
| R3 | 1.1387 |
| R2 | 1.1338 |
| R1 | 1.1272 |
| Pivot | 1.1222 |
| S1 | 1.1156 |
| S2 | 1.1107 |
| S3 | 1.1041 |
EURUSD has formed a bearish reversal pattern near the highs of 1.1268 identified by the doji and followed by the bearish candlestick. Price action at this point is still above 1.117 level. A break of this support could see price decline to test the previous lows near 1.1005 with the potential to decline further to 1.08505 support. To the upside, only a break above the recent high at 1.1268 will validate any further gains given that the support at 1.117 holds.
USDJPY Daily Pivots
| R3 | 121.416 |
| R2 | 120.846 |
| R1 | 120.496 |
| Pivot | 119.933 |
| S1 | 119.583 |
| S2 | 119.021 |
| S3 | 118.671 |
USDJPY broke out of the falling price channel after briefly testing lows at 118.51. We expect this bullish momentum to continue following a dip to 120.036 or down to the daily pivot level. If support holds, USDJPY could target 120.78 upon break of 120.26. Alternatively, if 120.036 fails to hold prices, USDJPY could dip lower to 119.65, which should provide the much needed support to propel the currency higher against the Yen.
GBPUSD Daily Pivots
| R3 | 1.5615 |
| R2 | 1.5505 |
| R1 | 1.5331 |
| Pivot | 1.5223 |
| S1 | 1.5049 |
| S2 | 1.4939 |
| S3 | 1.4765 |
GBPUSD broke down from its rising price channel and looks to be currently retracing some of its losses. A retest to 1.528 or to the daily pivot will see prices decline further potentially targeting 1.501 and eventually the 1.50 psychological level. A break below 1.5 will however see GBPUSD decline lower to 1.4725 levels.
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