EURUSD Daily Pivots
| R3 | 1.2455 |
| R2 | 1.2422 |
| R1 | 1.2366 |
| Pivot | 1.2332 |
| S1 | 1.2276 |
| S2 | 1.2243 |
| S3 | 1.2187 |
EURUSD broke down from the trend line and comfortably passed through the major support at 1.22695. The next support comes in at 1.22717 followed by the major multi-year support level at 1.20626. Price is currently heading in a steep and narrow price channel predictive of a potential sharp decline. However, the broken support levels at 1.24335 – 1.242 and 1.23695 are yet to be tested for resistance.
USDJPY Daily Pivots
| R3 | 120.79 |
| R2 | 120.32 |
| R1 | 120.060 |
| Pivot | 119.59 |
| S1 | 119.33 |
| S2 | 118.86 |
| S3 | 118.6 |
USDJPY is flirting with major yearly highs, riding on the Greenback’s strength and the structural weakness in the Yen. In the sharp rally, USDJPY has some untested broken resistance levels due to be tested for support at 118.974. A break down from the support trend line and a potential resistance near the top could see possible declines to test 118.974.
GBPUSD Daily Pivots
| R3 | 1.583 |
| R2 | 1.5774 |
| R1 | 1.573 |
| Pivot | 1.5674 |
| S1 | 1.563 |
| S2 | 1.5574 |
| S3 | 1.553 |
GBPUSD continued to trade within its range, seen for the past few days. However, the price action here is starting to show a possible break out to the upside after the pair stood resilient against further declines. A break above the falling price channel’s upper trend line will see the possibility to test previous resistance at 1.58144. A break of the pink rising price channel could however set the stage for more declines in GBPUSD.
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