USDJPY

The pair is trading around 110.70, broadly balanced on the day and off the highs. Concerns about trade weighed on Asian equities and the safe-haven Yen enjoyed inflows. The US is due to impose duties on China on Friday. A break of 110.89 will resume the rise from 108.10 and target 111.39. Firm break there will resume the rally to target 114.73 key resistance. On the downside, below 109.36 will extend the consolidation from 111.39 with another decline.

USDJPYH-02-07-2018

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 110.40 110.51 110.62 110.73 110.84 110.95 111.06
WEEKLY 108.13 108.75 109.71 110.33 111.29 111.91 112.87
MONTHLY 107.06 107.89 109.29 110.12 111.52 112.35 113.75

EURUSD

The political crisis in Germany resumed as Interior Minister Horst Seehofer threatened to resign and this is influencing the EURO. The pair bulls gained about 120 pips on Friday as they almost reached the 1.1700 level. Resistance is seen at 1.1700 region and a move beyond this level will target 1.1720 resistance next. On the other hand, if the pair corrects lower, it may well find support near the 1.1640 and 1.1600 support levels in the near term.

EURUSDH-02-07-2018

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.1635 1.1649 1.1664 1.1678 1.1693 1.1707 1.1722
WEEKLY 1.1373 1.1450 1.1568 1.1645 1.1763 1.1840 1.1958
MONTHLY 1.1167 1.1338 1.1511 1.1682 1.1855 1.2026 1.2199

GBPUSD

Friday´s recovery fell short of changing the pair’s negative tone however, the pullback is viewed as nothing more than a healthy correction at this stage, with a higher low sought out ideally ahead of 1.3000 for the next major upside extension and bullish continuation. Immediate resistance is seen at 1.3290, and a rise through here could take it to the next resistance level of 1.3300.

GBPUSDH-02-07-2018

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.3170 1.3178 1.3193 1.3201 1.3216 1.3224 1.3239
WEEKLY 1.2830 1.2940 1.3074 1.3184 1.3318 1.3428 1.3562
MONTHLY 1.2592 1.2821 1.3015 1.3244 1.3438 1.3667 1.3861

GOLD

Gold is currently trading around the 1249.00 level, steady awaiting this week’s key scheduled developments from geopolitical risks to nonfarm payrolls. Key resistance still stands at the 1260 level where a break will aim at the 1,270.00 level. A turn above there will expose the 1280 level. Further out, resistance stands at the 1290 level. Support resides at 1243 guarding a path down to 1239 level.

GOLDH-02-07-2018

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1250.70 1251.80 1253.30 1254.40 1255.90 1257.00 1258.50
WEEKLY 1213.94 1229.37 1240.34 1255.77 1266.74 1282.17 1293.14
MONTHLY 1165.26 1205.03 1228.16 1267.93 1291.06 1330.83 1353.96