EURUSD, GBPUSD, USDJPY Pivot Points for 15 June

EURUSD Daily Pivots

R3	1.1466
R2	1.138
R1	1.1321
Pivot	1.1234
S1	1.1174
S2	1.1089
S3	1.1029

 

EURUSD (1.1209) opened this morning gapping lower following up from last Friday’s doji candlestick on the daily charts. This price action hints to a bearish momentum that could seep in, considering that prices have failed to break above 1.12845 level of resistance. On the intraday charts, we notice EURUSD breaking away from the rising price channel. However, the strong support between 1.117 through 1.1135 will likely result in some sideways price action for a while. A break below 1.1135 will see a test back to 1.10 level of support, while to the upside, prices need to crawl back into the rising price channel and break above the previous highs of 1.13575 in order to target 1.149 level of resistance.

USDJPY Daily Pivots

R3	125.686
R2	124.912
R1	124.165
Pivot	123.391
S1	122.644
S2	121.87
S3	121.123

 

USDJPY (123.46) has been consolidating within the highs and lows from last Wednesday’s range indicating a potential break out in either direction. We are biased to the upside and we expect another rally in the USDJPY this week. On the intraday charts, price action is trading right below the technical support/resistance region of 124 and a close above this level is needed to expect further gains. To the downside, a close below the most recent lows near 122.5 will see USDJPY decline down to the next support region between 122 – 121.7.

GBPUSD Daily Pivots

R3	1.575
R2	1.5674
R1	1.5619
Pivot	1.5543
S1	1.5488
S2	1.5412
S3	1.5357

 

GBPUSD (1.553) is seen consolidating near the level of support/resistance at 1.552 on the daily charts. Friday’s candlestick closed on a bullish engulfing note and we expect this to show a continuation to the rally, with the potential test previous highs near 1.5752. On the intraday charts, we notice that GBPUSD is sitting comfortably above the level of support between 1.5513 and 1.5455. A successful test of support here could pave way for further gains to 1.579. A break below the support however will see a decline back to retest the break out level near 1.5357.