USDJPY

The pair bounced-off a dip to 111.80 and regained the 112 handle, tracking a minor-recovery in the Japanese equities. However, the rebound appears limited by a broadly weaker US dollar and negative Treasury yields. USDJPY remains bullish while above cloud base support, which lies at 111.47. On the higher side, a move above 112.89 would imply that the pullback from the recent high of 114.55 has made a temporary low below 112.00 and could yield a move higher toward 114.00.

USDJPY-25-10-2018

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 110.98 111.48 111.74 112.24 112.50 113.00 113.26
WEEKLY 110.76 111.19 111.87 112.30 112.98 113.41 114.09
MONTHLY 108.15 109.27 111.48 112.60 114.81 115.93 118.14

EURUSD

The EUR/USD is on the defensive ahead of the ECB rate decision. The currency pair closed below 1.1422 yesterday below the support level of 1.1448, establishing a lower lows and lower highs pattern on the daily chart. On the other side, resistance stands at 1.1497, and a rise through could take it to the next resistance level of 1.1515.

EURUSD-25-10-2018

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.1267 1.1324 1.1361 1.1418 1.1455 1.1512 1.1549
WEEKLY 1.1235 1.1334 1.1425 1.1524 1.1615 1.1714 1.1805
MONTHLY 1.1193 1.1359 1.1484 1.1650 1.1775 1.1941 1.2066

GBPUSD

The pair broke through the support level at 1.2949 and is trading just shy of the 1.2900 technical level ahead of Thursday’s London market session as Brexit fears continue to drain confidence from the Pound. The pair has its next relevant support at 1.2785, a probable bearish target in the case the decline continues sub-1.2855. On the flipside, GBPUSD is seen to reclaim the 1.3000 level if the bulls take over.

GBPUSD-25-10-2018

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.2716 1.2792 1.2838 1.2914 1.2960 1.3036 1.3082
WEEKLY 1.2751 1.2881 1.2976 1.3106 1.3201 1.3331 1.3426
MONTHLY 1.2266 1.2526 1.2779 1.3039 1.3292 1.3552 1.3805

GOLD

Gold is finding some continued buying support in Thursday’s trading, lifting back above 1236.00 as risk sentiment takes a turn for the worse in broader markets, and the safe-haven metal is finding support from yesterday’s low of 1,225.00. The yellow metal closed at 1235.29 yesterday, confirming an upside break of the bull flag – a bullish continuation pattern – which indicates a continuation of the rally from the Oct. 9 low of $1,183.

GOLD-25-10-2018

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1222.10 1225.30 1231.70 1234.90 1241.30 1244.50 1250.90
WEEKLY 1211.14 1216.77 1221.04 1226.67 1230.94 1236.57 1240.84
MONTHLY 1154.34 1167.17 1179.34 1192.17 1204.34 1217.17 1229.34