Home EUR/USD, USD/JPY, GBP/USD Pivot Points, TA – September 1
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EUR/USD, USD/JPY, GBP/USD Pivot Points, TA – September 1

EURUSD Daily Pivots

R3 1.1348
R2 1.1304
R1 1.1256
Pivot 1.1212
S1 1.1165
S2 1.1121
S3 1.1072

 

EURUSDH4_0109

EURUSD (1.12): EURUSD is attempting to form a basing pattern after declining to 1.1187. However a bullish close is required today for confirmation ahead of a possible upside rally. The support level at 1.117 looks to be holding the declines at the moment while to the upside, resistance at 1.1335 could cap the rallies. With price trading inside the rising price channel, it is essential that EURUSD forms support at 1.1335 – 1.13575 level, which is currently the resistance level to watch. A successful test of support at this level could confirm further upside in EURUSD to target 1.15.

 

USDJPY Daily Pivots

R3 122.375
R2 122.016
R1 121.607
Pivot 121.248
S1 120.838
S2 120.479
S3 120.069

 

USDJPYH4_0109

USDJPY (120.7): USDJPY is forming a reversal pattern after retracing some of its losses at 121.5. However, there is a risk of a possible rally to fill the gap at 122.145 which sits just a few pips above the main resistance at 122 – 121.7 region. To the downside, price is currently testing the lower support at 120.8 region and we could expect some sideways price action. A break below 120.8 could push USDJPY to the previous lower support at 119.10.

 

GBPUSD Daily Pivots

R3 1.5504
R2 1.547
R1 1.5406
Pivot 1.5373
S1 1.5309
S2 1.5275
S3 1.5211

 

GBPUSDH4_0109

GBPUSD (1.53): GBPUSD declined to the previous lows near 1.533 and has formed a strong reversal pattern at this low which marks a reversal for the second time. The Cable will have to break above the previous highs at 1.543 in order to ascertain some upside bias but the strong resistance zone near 1.55 – 1.5455 could potentially keep the GBPUSD trading sideways. To the downside, the next main support at 1.533 remains to be tested and any we

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]