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EURUSD Daily Pivots

R3 1.191
R2 1.1781
R1 1.1573
Pivot 1.1444
S1 1.1235
S2 1.1107
S3 1.0898

 EURUSD H1 January 23 2015 technical analysis pivot points for currency forex trading

EURUSD broke down from its short term support level at 1.149 and continues to decline missing the daily pivot level as well. There is quite a bit of room to the downside, before price heads closer to the falling trend line for support, which currently shows confluence with one of the support levels near 1.11. A retracement however could be possible, either to the daily pivot or even back towards the 1.149 levels.

USDJPY Daily Pivots

R3 120.42
R2 119.544
R1 119.018
Pivot 118.142
S1 117.616
S2 116.740
S3 116.214

USDJPY H1 January 23 2015 technical analysis pivot points for currency forex trading

USDJPY looks to continue its rally to test the major resistance level at 118.87 or even further to 119. A successful test of resistance here could pave way for declines with the first support coming in at 118.2. There is also the likelihood of price validating a longer term inverted head and shoulders pattern, which could see the USDJPY rally as much as towards 127 levels.

GBPUSD Daily Pivots

R3 1.5396
R2 1.5303
R1 1.5157
Pivot 1.5065
S1 1.5088
S2 1.4918
S3 1.4826

GBPUSD H1 January 23 2015 technical analysis pivot points for currency forex trading

The break of 1.515 indicates a continuation of the bearish momentum, with price also now having broken the lower support line of the falling price channel. The next likely targets for GBPUSD will potentially come down to 1.4922 levels, which marks a major support level, last seen in 2013.