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EURUSD Daily Pivots

R3 1.1952
R2 1.1898
R1 1.1869
Pivot 1.1815
S1 1.1786
S2 1.1732
S3 1.1703

 EURUSD Technical analysis pivot points January 12 2015 currency trading forex

EURUSD started to push higher after Friday’s NFP report. Having broken the minor falling trend line, we expect EURUSD to retrace towards the daily pivot level which also shows confluence with the break out price level near 1.1816 level. A successful test for support at this level will then pave way for clear gains back towards the pending unfilled gap near 1.20 level.

USDJPY Daily Pivots

R3 120.884
R2 120.378
R1 119.445
Pivot 118.939
S1 118.006
S2 117.5
S3 116.567

USDJPY H1 Technical analysis pivot points January 12 2015 currency trading forex

USDJPY looks to be currently consolidating between the short term support and resistance levels. A rally towards the resistance which shows confluence with the daily pivot levels could be seen. A test of resistance from 118.939 could potentially give way to test the support at 118 price zone for the moment. A break of the 118 price zone could see further declines in USDJPY with the likelihood to test 117.61 – 117.5 support regions.

GBPUSD Daily Pivots

R3 1.5297
R2 1.5235
R1 1.5199
Pivot 1.5137
S1 1.5102
S2 1.5041
S3 1.5005

GBPUSD H4 Technical analysis pivot points January 12 2015 currency trading forex

GBPUSD is trading close to the main price channel’s lower support line, having broken out below this falling support level, price action points to a retest. A break out to the upside will put the Cable back into the price channel and could potentially seek gains towards the untested broken support at 1.5486 level for resistance. To the downside, unless we see a break down below the lows of 1.503, we can expect GBPUSD to consolidate for the short term.