Home EUR/USD, USD/JPY, GBP/USD Technical Analysis, Pivot Points – Apr.
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EUR/USD, USD/JPY, GBP/USD Technical Analysis, Pivot Points – Apr.

EURUSD Daily Pivots

R3 1.145
R2 1.1319
R1 1.1222
Pivot 1.1089
S1 1.0994
S2 1.0861
S3 1.0764

 EURUSDH4_3004

EURUSD reached the target zone to 1.117 yesterday and has since then eased off from the highs. Price action looks a bit tricky at the moment as the current bearish candles could potentially turn out to form another bull flag, indicating continuation to the bullish trend. To make further gains, EURUSD will have to establish support near the resistance of 1.117 levels. To the downside, price action could dip lower to retest the levels of 1.08505 upon clearing the short term support/resistance at 1.1 region.

USDJPY Daily Pivots

R3 120.138
R2 119.747
R1 119.384
Pivot 118.994
S1 118.63
S2 118.24
S3 117.877

USDJPYH4_3004

USDJPY continues to consolidate near the support level at 118 and has failed to drop to the lower end towards 118.5. We expect this test to happen sooner than later and if the support at 118.5 holds, we could expect to see some gains to the upside above 119 levels. A break out from the falling price channel is needed to validate further upside gains.

GBPUSD Daily Pivots

R3 1.5684
R2 1.559
R1 1.5513
Pivot 1.5419
S1 1.5342
S2 1.5248
S3 1.5173

GBPUSDH4_3004

GBPUSD stalled just a few points shy of 1.55 as we see the currency consolidating from these levels. With the steep price channel formed, a break out from here could see a quick decline down to 1.5019 level following 1.5, a psychological number as well as a strong support and resistance level.

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]