USDJPY

Data released overnight showed that Japan’s flash Nikkei manufacturing PMI declined to a level of 52.5 in May, expanding at its weakest pace since August 2017, with USD declining against JPY. USD/JPY is expected to find support at 110.37, and a fall through could take it to the next support level of 110.10. On the other side expected resistance stands at 111.19, and a rise through could take it to the next resistance level of 111.39.

USDJPY

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 110.10 110.41 110.57 110.88 111.04 111.35 111.51
WEEKLY 107.72 108.46 109.60 110.34 111.48 112.22 113.36
MONTHLY 102.92 104.28 106.81 108.17 110.70 112.06 114.59

EURUSD

Focus is on the EU and US Markit manufacturing and services PMIs for May, scheduled to release today Also, the release of latest FOMC meeting minutes will be eyed by market participants. EUR/USD is expected to find support at 1.1742, and a fall through could take it further to the support level of 1.1716. On the other side resistance stands at 1.1830, and a rise through could take it to the next resistance level of 1.1875.

EURUSD

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.1681 1.1719 1.1753 1.1791 1.1825 1.1863 1.1897
WEEKLY 1.1435 1.1592 1.1685 1.1842 1.1935 1.2092 1.2185
MONTHLY 1.1590 1.1822 1.1950 1.2182 1.2310 1.2542 1.2670

GBPUSD

Trading trend in the Sterling today will be determined by UK’s crucial inflation figures for April, as CPI, PPI, and Retail Price Index figures are released in a few hours. The pair is expected to find support at 1.3390, and a fall through could take it to the next support level of 1.3354. On the other side resistance stands at 1.3491, and a rise through could take it to the next resistance level of 1.3529.

GBPUSDH

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.3327 1.3370 1.3405 1.3448 1.3483 1.3526 1.3561
WEEKLY 1.3254 1.3353 1.3413 1.3512 1.3572 1.3671 1.3731
MONTHLY 1.2866 1.3290 1.3531 1.3955 1.4196 1.4620 1.4861

GOLD

Gold reverses its gains in the Asian session and focus is on the US economic data releasing today. XAUUSD is expected to find support at 1287.60, and a fall through could take it to the next support level of 1277.03. On the other side resistance stands at 1296.25, and a rise through could take it to the next resistance level of 1309.23.

GOLD

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1290.44 1290.97 1291.34 1291.87 1292.24 1292.77 1293.14
WEEKLY 1242.26 1263.73 1276.96 1298.43 1311.66 1333.13 1346.36
MONTHLY 1239.60 1274.60 1295.40 1330.40 1351.20 1386.20 1407.00