EURUSD Daily Pivots
| R3 | 1.1099 |
| R2 | 1.1016 |
| R1 | 1.0969 |
| Pivot | 1.0884 |
| S1 | 1.0838 |
| S2 | 1.0754 |
| S3 | 1.0708 |
EURUSD (1.09): EURUSD closed Friday’s session with a strong hammer pattern with price rejection to the downside after testing the daily low of 1.0802. Price action is back near 1.0939 region and a potential lower close or a doji is expected in today’s session as prices remain near the strong resistance of 1.095 – 1.0932 region. To the downside, EURUSD could be potentially closing back near the previous support at 1.0815 – 1.0796 and the current price action looks to have invalidated the head and shoulders pattern in EURUSD identified few weeks ago. Therefore, if the support at 1.0815 – 1.0796 holds the declines, then EURUSD could be looking to a stronger rally in the near term.
USDJPY Daily Pivots
| R3 | 119.824 |
| R2 | 119.328 |
| R1 | 118.453 |
| Pivot | 117.941 |
| S1 | 117.065 |
| S2 | 116.559 |
| S3 | 115.685 |
USDJPY (117.2): USDJPY opened today’s session with a down gap and tested the lows of 116.7 before pulling back higher. The bias remains to the downside with prices breaking 118.4 – 118 level of support. A move to the upside could potentially turn this support into resistance leaving room for USDJPY to decline further to 116.22 where the next support comes in. On the 4-hour chart, prices are in an extreme bear trend although the Stochastics continues to plot a divergence with an eye for 120.815 region of resistance. Only a close above 118 will confirm this view for a move to 120.815.
GBPUSD Daily Pivots
| R3 | 1.4750 |
| R2 | 1.4698 |
| R1 | 1.4612 |
| Pivot | 1.4558 |
| S1 | 1.4473 |
| S2 | 1.4420 |
| S3 | 1.4335 |
