USDJPY

The US Dollar knocked lower against the Japanese Yen on Wednesday, and the slippage continues for today as risk aversion makes its way back into the markets. USD/JPY is expected to find support at 109.30, and a fall through could take it to the next support level of 109.15. On the other side expected resistance stands at 110.45, and a rise through could take it to the next resistance level of 110.80.

USDJPY

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 108.02 108.79 109.34 110.11 110.66 111.43 111.98
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

The EUR/USD is trading around the 1.1700 level ahead of Thursday’s European market session, and the pair is struggling to develop a bounce from Wednesday drop. The pair extended its decline post-FOMC’s Minutes and now finds its support at 1.1660 and a break below it should lead to a steeper slide regardless oversold conditions. On the upside, any meaningful up-move above the 1.1720 region might confront some fresh supply near the 1.1750 area, above which the pair could make a fresh attempt towards surpass the 1.1785 round figure mark.

EURUSD

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.1548 1.1612 1.1661 1.1725 1.1774 1.1838 1.1887
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

The GBP/USD has been oversold for three weeks now, according to the 14-day relative strength index (RSI), still the corrective rally remains elusive. The pair saw its support breached at 1.3390 now trading around 1.3360. A further downside move from 1.3360 will expose 1.3354. On the flipside, resistance remains at 1.3491, and clear move above here could take it to the next resistance level of 1.3529.

GBPUSD

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.3168 1.3237 1.3304 1.3373 1.3440 1.3509 1.3576
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 looks set for a corrective rally to 1302 levels but the yellow metal continues to have a tough time scaling the 1297 immediate resistance. A move above the first resistance will see Gold targeting 1300 handle and 1307 levels. Meanwhile, support is lined up at 1293 ,1287 (previous day’s low), and 1282 (May 21 low).

GOLD

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1278.14 1282.77 1288.54 1293.17 1298.94 1303.57 1309.30
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