EURUSD Daily Pivots
| R3 | 1.1669 |
| R2 | 1.1641 |
| R1 | 1.1595 |
| Pivot | 1.1567 |
| S1 | 1.1521 |
| S2 | 1.1493 |
| S3 | 1.1446 |
EURUSD continues to range sideways with no clear direction at the moment. We expect EURUSD to continue this range trading into the run up to the ECB meeting this Thursday. To the downside, the potential support at 1.491 is likely to hold prices further, while to the upside, gains are likely to be capped by the falling trend line.
USDJPY Daily Pivots
| R3 | 120.571 |
| R2 | 119.719 |
| R1 | 119.267 |
| Pivot | 118.415 |
| S1 | 117.963 |
| S2 | 117.111 |
| S3 | 116.659 |
USDJPY broke out from the price channel to test the resistance near 118.87 before the break down. We could expect a minor retracement towards the support/resistance level near 118.2 – 110.06 before USDJPY declines lower. The support at 117.646 will have to be cleared in order to target the support at 116.339.
GBPUSD Daily Pivots
| R3 | 1.535 |
| R2 | 1.5274 |
| R1 | 1.5209 |
| Pivot | 1.5134 |
| S1 | 1.5069 |
| S2 | 1.4994 |
| S3 | 1.4929 |
GBPUSD could possible decide on its direction today. A potential dip towards 1.5112 for support could see the Cable aim towards its long pending correction towards 1.54. However, the most likely target to the upside will be the support/resistance level between 1.525 and 1.528. We also notice the bullish flag being formed, which shows a potential break out to the upside.
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