EURUSD Daily Pivots
| R3 | 1.1454 |
| R2 | 1.1406 |
| R1 | 1.1365 |
| Pivot | 1.1317 |
| S1 | 1.1275 |
| S2 | 1.1227 |
| S3 | 1.1186 |
EURUSD is starting to look for a move to the upside, potentially to retest 1.14 levels. We expect a dip to the daily pivot level or even possibly a test of the falling trend line before rally higher. To the downside, a close below the falling trend line could continue to see further declines in the pair with a downside target towards 1.1141, the next support level.
USDJPY Daily Pivots
| R3 | 119.805 |
| R2 | 119.451 |
| R1 | 119.042 |
| Pivot | 118.688 |
| S1 | 118.279 |
| S2 | 117.925 |
| S3 | 117.516 |
The Dollar Yen continues to drift within the bullish flag pattern formation. However, the fact that the flag distance is now starting to look a bit extended; we trim down on our view of a bullish break out until we see a clear support established near 118.975 levels. To the upside, USDJPY will have to break the resistance zone starting at 118.87. Failure to do so could see sideways price action until a break out in either direction emerges.
GBPUSD Daily Pivots
| R3 | 1.5321 |
| R2 | 1.5294 |
| R1 | 1.5255 |
| Pivot | 1.5228 |
| S1 | 1.5188 |
| S2 | 1.5161 |
| S3 | 1.5122 |
GBPUSD continued its declines since Friday’s NFP report saw a strong US Dollar. However, the pair has managed to form a temporary bottom near 1.52 levels and currently looks poised to test the broken support level at 1.5285 levels. If resistance at this level holds, we can expect to see a test lower towards the next support at 1.519 levels before the pair seeks further direction.
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