USD/JPY

USD/JPY is struggling near the lower end of its daily trading range, around the 108.00 handle. The pair failed to capitalize on the previous session’s post-FOMC uptick to fresh multi-week tops and met with some aggressive supply on Thursday after the Bank of Japan offered no additional hints of any potential easing measures. USD/JPY is expected to find support at 107.72 and a fall through could take it to the support level of 107.51. On the other side, resistance stands at 108.20 and a rise through could take it to the level of 108.44

USDJPY-19-09-2019

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
1 DAY 107.81 107.95 108.20 108.34 108.58 108.73 108.97
1 WEEK 105.63 106.20 107.14 107.71 108.65 109.22 110.16
1 MONTH 99.19 101.82 104.07 106.70 108.95 111.58 113.83

EURUSD

EUR/USD has charted a narrowing price over the last four trading days, and the Fed delivered a hawkish hike on Monday, boosting prospects of a downside move in the EUR. The pair is trading close to 1.1050, up from the lows it fell to on Wednesday after the Fed cut rates but signalled no new moves are imminent. Markets are digesting the decision and eyeing several US figures. EUR/USD is expected to find support at 1.1021 and a fall through could take it further to the support level of 1.1004. On the other side, resistance stands at 1.1067 and a rise through could take it to the next resistance level of 1.1081.

EURUSD-19-09-2019

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
1 DAY 1.0943 1.0978 1.1004 1.1040 1.1066 1.1102 1.1127
1 WEEK 1.0781 1.0854 1.0965 1.1038 1.1149 1.1222 1.1333
1 MONTH 1.0597 1.0780 1.0885 1.1068 1.1173 1.1356 1.1461

GBPUSD

GBP/USD is trading below 1.25, consolidating its losses after the US Fed cut rates as expected and indicated a pause. UK Retail Sales, BOE, Supreme Court hearing on PM Johnson’s Parliament prorogation together constitutes a key day. GBP/USD is expected to find support at 1.2444 and a fall through could take it to the next support level of 1.2416. On the other side, resistance stands at 1.2504, and a rise through could take it to the next resistance level of 1.2525.

GBPUSD-19-09-2019

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
1 DAY 1.2364 1.2402 1.2436 1.2474 1.2508 1.2546 1.2580
1 WEEK 1.2044 1.2138 1.2320 1.2414 1.2596 1.2690 1.2872
1 MONTH 1.1719 1.1867 1.2013 1.2161 1.2307 1.2455 1.2601

GOLD

Gold drops on strength in the Greenback following a dubious Fed rate cut. The yellow metal’s prices have dropped on the Federal Reserve decision whereby no real assurance of more cuts down the line were presented. However, the door has been left open which limits the downside potential in this move. Gold is expected to find support at 1,487.50 and a fall through could take it to the support level of 1,483.90. On the other side, resistance stands at 1,498.70, and a rise through could take it to the level of 1,504.10.

Gold-19-09-2019

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
1 DAY 1458.41 1474.78 1486.66 1503.03 1514.91 1531.28 1543.16
1 WEEK 1443.56 1467.83 1483.66 1507.97 1523.76 1548.03 1563.86
1 MONTH 1286.44 1349.27 1439.34 1502.17 1592.24 1655.07 1745.14