EURUSD Daily Pivots
| R3 | 1.1381 |
| R2 | 1.1353 |
| R1 | 1.1310 |
| Pivot | 1.1283 |
| S1 | 1.1239 |
| S2 | 1.1212 |
| S3 | 1.1169 |
EURUSD (1.12): EURUSD closed on a bearish note yesterday and below the main daily resistance level of 1.12845. We can expect to see some downside moves in store in the near term. Price has started to gradually drift lower after consolidating near the previous support/resistance zone of 1.13575 – 1.1335 level. To the downside, the next main support is at 1.117 level which is the most likely support to hold the declines. To the upside, the resistance levels of 1.142 remain likely to hold any rallies further.
USDJPY Daily Pivots
| R3 | 122.162 |
| R2 | 121.405 |
| R1 | 120.9 |
| Pivot | 120.143 |
| S1 | 119.654 |
| S2 | 118.897 |
| S3 | 118.408 |
USDJPY (120) USDJPY briefly tested the lows to 119.45 yesterday and we expect to see price ranging sideways ahead of further declines. On the daily charts, price action has formed a bearish pennant pattern which indicates further downside in store. On the intraday charts, price is trading within the highs and lows of 120.65 and 119.4 region. To the upside, resistance of 120.8 could be seen as a level where any possible rallies could be halted. Based on the daily chart bearish pennant pattern, the downside targets come to 116.57 and eventually to 114.25, while on the intraday charts, there is a strong support level at 119.1 and 117.25.
GBPUSD Daily Pivots
| R3 | 1.5551 |
| R2 | 1.5503 |
| R1 | 1.5423 |
| Pivot | 1.5376 |
| S1 | 1.5295 |
| S2 | 1.5248 |
| S3 | 1.5167 |
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