EURUSD Daily Pivots
| R3 | 1.146 |
| R2 | 1.1421 |
| R1 | 1.1354 |
| Pivot | 1.1314 |
| S1 | 1.1247 |
| S2 | 1.1207 |
| S3 | 1.1104 |
EURUSD closed lower yesterday after breaking out from the rising trend line. However, price action is currently aiming to reach for the daily pivot level. If price reverses from the pivot point, we could expect to see further declines in EURUSD. Alternatively, a break higher above the daily pivot level could possibly see the EURUSD back towards retracing its gains.
USDJPY Daily Pivots
| R3 | 119.111 |
| R2 | 118.683 |
| R1 | 118.111 |
| Pivot | 117.683 |
| S1 | 117.111 |
| S2 | 116.684 |
| S3 | 116.111 |
USDJPY has been ranging between 118 and 117.6 levels for the past couple of sessions. We however notice that the break out from this range is imminent. Immediate resistance containing break out to the upside comes in at 118.2 levels, after which, price could rally as much as 118.64 and eventually towards 118.9 levels. To the downside, a break of support near 117.646 – 117.5 will see a decline to 116.339
GBPUSD Daily Pivots
| R3 | 1.5283 |
| R2 | 1.5251 |
| R1 | 1.5195 |
| Pivot | 1.5163 |
| S1 | 1.5107 |
| S2 | 1.5075 |
| S3 | 1.5018 |
GBPUSD, despite the weakness yesterday looks poised for upside gains. However, price needs to clear 1.515 level in order to aim for the next resistance level at 1.525 levels. For the moment, price is well supported by the rising trend line as well as horizontal support levels, with a possible dip towards 1.511 before rallying higher.
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