EURUSD Daily Pivots
| R3 | 1.2535 |
| R2 | 1.2506 |
| R1 | 1.2471 |
| Pivot | 1.2442 |
| S1 | 1.2407 |
| S2 | 1.2378 |
| S3 | 1.2343 |
EURUSD was trading within a range after making an intraday high to 1.2477 yesterday and has been trading right above the major support/resistance level that we have been watching. A bullish reversal later during the US trading session puts EURUSD for further upside gains as long as the minor resistance near 1.246 is broken, which would then target the next resistance at 1.248.
USDJPY Daily Pivots
| R3 | 120.218 |
| R2 | 119.638 |
| R1 | 118.728 |
| Pivot | 118.149 |
| S1 | 117.24 |
| S2 | 116.66 |
| S3 | 115.75 |
USDJPY broke down after failing to break the resistance at 118.87 levels to close at lows near 117.61. Today’s price action in early Asian trading shows continued strength in the Yen as the pair struggles to break above the support noted at 117.614. A rally to the daily pivot level at 118.149 is likely before USDJPY declines further targeting the next support zone near 115.9 – 115.85 levels.
GBPUSD Daily Pivots
| R3 | 1.5866 |
| R2 | 1.5806 |
| R1 | 1.5721 |
| Pivot | 1.5661 |
| S1 | 1.5576 |
| S2 | 1.5516 |
| S3 | 1.5430 |
GBPUSD failed to clear the upper end of the range near 1.5723 and posted steep declines yesterday briefly touching the lower end of the range at 1.561. Current price action is starting to look bearish with the possibility that we could see another retest down to 1.561 with the potential of breaking below this level targeting previous lows to 1.554
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