EURUSD Daily Pivots
| R3 | 1.145 |
| R2 | 1.1319 |
| R1 | 1.1222 |
| Pivot | 1.1089 |
| S1 | 1.0994 |
| S2 | 1.0861 |
| S3 | 1.0764 |
 
EURUSD reached the target zone to 1.117 yesterday and has since then eased off from the highs. Price action looks a bit tricky at the moment as the current bearish candles could potentially turn out to form another bull flag, indicating continuation to the bullish trend. To make further gains, EURUSD will have to establish support near the resistance of 1.117 levels. To the downside, price action could dip lower to retest the levels of 1.08505 upon clearing the short term support/resistance at 1.1 region.
USDJPY Daily Pivots
| R3 | 120.138 |
| R2 | 119.747 |
| R1 | 119.384 |
| Pivot | 118.994 |
| S1 | 118.63 |
| S2 | 118.24 |
| S3 | 117.877 |
USDJPY continues to consolidate near the support level at 118 and has failed to drop to the lower end towards 118.5. We expect this test to happen sooner than later and if the support at 118.5 holds, we could expect to see some gains to the upside above 119 levels. A break out from the falling price channel is needed to validate further upside gains.
GBPUSD Daily Pivots
| R3 | 1.5684 |
| R2 | 1.559 |
| R1 | 1.5513 |
| Pivot | 1.5419 |
| S1 | 1.5342 |
| S2 | 1.5248 |
| S3 | 1.5173 |
GBPUSD stalled just a few points shy of 1.55 as we see the currency consolidating from these levels. With the steep price channel formed, a break out from here could see a quick decline down to 1.5019 level following 1.5, a psychological number as well as a strong support and resistance level.
