USDJPY

The USDJPY continued its bullish momentum yesterday topped at 113.48. The bias is bullish in the near-term testing 114.29 level. We look to see immediate support around 112.65 but a break below that area could lead the pair to test 112.00 area but overall a bullish trend will persist. On the upside, a clear break and daily close above 114.30 would expose 115.50 area this week.

  USDJPY

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 111.30 111.75 112.57 113.02 113.84 114.29 115.11
WEEKLY 109.48 110.29 111.33 112.14 113.18 113.99 115.03
MONTHLY 105.67 107.24 109.81 111.38 113.95 115.52 118.09
 

EURUSD

Overextension on the EURUSD has quenched the momentum and now we are witnessing a pullback. Possible support could be located around 1.1285 level which acted as a resistance area in the past and if there is a break, we could witness support levels of 1.11300 and 1.1025. After a sharp rally in past days the pair is likely to take a break providing a bias towards the downside in the near term. However, in the longer term, the trend indicators are signalling a bullish market structure with 50-day MA showing a continuous rising.

  EURUSD

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.1273 1.1314 1.1343 1.1384 1.1413 1.1454 1.1483
WEEKLY 1.0970 1.1070 1.1248 1.1348 1.1526 1.1626 1.1804
MONTHLY 1.0881 1.0999 1.1212 1.1330 1.1543 1.1661 1.1874
 

GBPUSD

The pair had a bearish session yesterday, despite thin volatility seen during U.S. session. If the bears extend their effect to a breakout below 1.2924, we might witness a continuation towards 1.2756 level in a first degree, but one cannot overlook the fact that the 200 SMA at H1 chart could provide dynamic support. MACD indicator remains in the negative territory, supporting the current bias.

  GBPUSD​ ​

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.2825 1.2879 1.2914 1.2968 1.3003 1.3057 1.3092
WEEKLY 1.2481 1.2592 1.2810 1.2921 1.3139 1.3250 1.3468
MONTHLY 1.2287 1.2437 1.2732 1.2882 1.3177 1.3327 1.3622
 

GOLD

Downside pressure is expected to remain in the short term if the market continues to trade below the 50-period MA. A move above 1248.15 could weaken the bearish bias and it could act as the resistance area as witnessed in the past. But if the downward trend continues we could see a support level of 1214.18 which was the case in the month of May. The bulls would look to take over if the June 14 high of 1280.80 level is reached that would open for a re-test of June 6 high of 1295.96.

  GOLD

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1191.21 1205.27 1214.81 1228.87 1238.41 1252.47 1262.01
WEEKLY 1210.36 1223.43 1232.86 1245.93 1255.36 1268.43 1277.86
MONTHLY 1157.30 1196.90 1219.60 1259.20 1281.90 1321.50 1344.20