EURUSD Daily Pivots
| R3 | 1.116 |
| R2 | 1.1096 |
| R1 | 1.097 |
| Pivot | 1.0904 |
| S1 | 1.0778 |
| S2 | 1.0712 |
| S3 | 1.0586 |
 
EURUSD declined to new multi year lows trading at 1.084 levels. The next major support comes in at 1.051 levels but we suspect a bounce could be in store, back to the broken support at 1.117 levels. With upside gains capped to this resistance level initially followed by the falling trend line which also shows a descending triangle pattern on the 4-hour charts.
USDJPY Daily Pivots
| R3 | 122.739 |
| R2 | 122.012 |
| R1 | 121.356 |
| Pivot | 120.63 |
| S1 | 119.974 |
| S2 | 119.248 |
| S3 | 118.592 |
USDJPY tested the short term support at 119.525 levels and rallied towards 120.8 as expected from our previous analysis. We can expect a small dip down to the previous broken resistance at 120.465 before a further rally resumes. To the upside the major resistance comes in at 123 levels and as long as the support at 120.465 through 120.16 holds, we can expect to see this bullish momentum to continue.
GBPUSD Daily Pivots
| R3 | 1.5411 |
| R2 | 1.5333 |
| R1 | 1.5188 |
| Pivot | 1.5110 |
| S1 | 1.4964 |
| S2 | 1.4886 |
| S3 | 1.4741 |
GBPUSD broke down through the support levels at 1.52858 and 1.52 levels and looks to be briefly bouncing off the major falling price channel’s upper trend line. This bounce could see a modest rally either towards the daily pivot or back to 1.52 levels before the bearish trend resumes. A break of the trend line is expected for GBPUSD to dip lower back to 1.502 levels.
