EURUSD Daily Pivots
| R3 | 1.2865 |
| R2 | 1.2816 |
| R1 | 1.2737 |
| Pivot | 1.2688 |
| S1 | 1.2608 |
| S2 | 1.2559 |
| S3 | 1.2479 |
The EURUSD’s choppy price action seems to be slowly clearing up for possible declines, especially when viewed in comparison to the US Dollar Index analysis. With the Greenback, technically still strong, we expect EURUSD to push higher to the main support/resistance level which shows confluence with today’s pivot level at 1.2683 ahead of further declines. The immediate downside support could be offered at 1.2588.
USDJPY Daily Pivots
| R3 | 107.987 |
| R2 | 107.649 |
| R1 | 107.35 |
| Pivot | 107.012 |
| S1 | 106.713 |
| S2 | 106.375 |
| S3 | 106.076 |
USDJPY managed to slow down in its decline after breaking out of the down sloping trend line. A key note of interest here is the weekend gap that is still yet to be filled at the region of 107.74. The descending triangle’s target is yet to be reached at 106.43. A break above the resistance at 107.356 could likely target the unfilled gap with a bigger resistance at 108.103.
GBPUSD Daily Pivots
| R3 | 1.6235 |
| R2 | 1.6166 |
| R1 | 1.6034 |
| Pivot | 1.5966 |
| S1 | 1.5834 |
| S2 | 1.5765 |
| S3 | 1.5634 |
GBPUSD buckled to decline to the long term support level of 1.59208. An interesting point of note here is some unfilled gaps at 1.5872 and 1.5487, which now seem to be achievable in case of further declines in GBPUSD. With price now trading below the trend line, it could likely come in as resistance, paving way for targeting the first unfilled gap at 1.5872.
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