EURUSD Daily Pivots
| R3 | 1.1336 |
| R2 | 1.1273 |
| R1 | 1.1229 |
| Pivot | 1.1166 |
| S1 | 1.1120 |
| S2 | 1.1057 |
| S3 | 1.1011 |
EURUSD (1.11): EURUSD closed on a bullish note yesterday halting some of the declines from earlier in the week. On the H4 chart time frame, price action saw a bit of consolidation above 1.1135 level of support and closed above this level with a comfortable margin. The recovery is expected to see a potential correction towards the next main resistance at 1.1252 region in the near term, provided the lower support at 1.1135 holds up. In the event of a break below 1.1135, EURUSD could turn lower with the potential to test the previous lows at 1.1008. To the upside, above 1.1252, the next main resistance is 1.1348 but it is unlikely at this point that the rally will test the next main level of resistance.
USDJPY Daily Pivots
| R3 | 121.587 |
| R2 | 121.064 |
| R1 | 120.673 |
| Pivot | 120.150 |
| S1 | 119.753 |
| S2 | 119.230 |
| S3 | 118.839 |
USDJPY (120): USDJPY remains range bound on the daily charts and the same is reflected on the lower time frame chart as well. Price action looks to be supported above 119.52 region of support and any dips to this support level is likely to hold alongside the lower main support at 119.14. A break above the recent highs at 120.27 could however see a rally in the USDJPY which could test the resistance at 121 region.
GBPUSD Daily Pivots
| R3 | 1.5481 |
| R2 | 1.5424 |
| R1 | 1.5333 |
| Pivot | 1.5277 |
| S1 | 1.5187 |
| S2 | 1.5129 |
| S3 | 1.5039 |
GBPUSD (1.52): GBPUSD’s sharp decline below the 1.5324 region has seen a dip to the lower support level at 1.5237. There has been no recovery in the decline for GBPUSD and we expect price to potentially fall to the lows of 1.5178 region. In the event of any correction, 1.5343 and 1.5399 are the most likely levels of resistance that could cap the rallies. To the downside a break below 1.5178 could possibly push GBPUSD lower to the 1.50 psychological level of support.
