USDJPY

The pair traded with a mild negative bias at the start of a new trading week and eroded a part of Friday’s goodish up-move to monthly tops. Any subsequent slide now seems to find some support near the 109.20 region, below which the pair is likely to break through the 109.00 handle and test the 108.75-70 horizontal support. On the flip side, the 109.80 area, closely followed by the 110.00 mark might continue to act as an immediate resistance, which if cleared should lift the pair further towards testing the 110.30 supply zone.

USDJPY-21-01-2019

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 109.48 109.56 109.62 109.70 109.76 109.84 109.89
WEEKLY 106.64 107.31 108.55 109.22 110.46 111.13 112.37
MONTHLY 103.83 106.69 108.14 111.00 112.45 115.31 116.76

EURUSD

After four consecutive daily pullbacks, the pair has started the week on a positive note amidst a selling bias surrounding the greenback. Any subsequent recovery now seems to confront some fresh supply near the 1.1400 handle, and any lift might target the 1.1445-50 zone. Further recovery move seems more likely to remain capped near the 1.1470-75 region. Key support is seen at 1.1353 level.

EURUSD-21-01-2019

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.1301 1.1331 1.1348 1.1378 1.1396 1.1425 1.1443
WEEKLY 1.1172 1.1262 1.1313 1.1403 1.1454 1.1544 1.1595
MONTHLY 1.1111 1.1189 1.1330 1.1408 1.1549 1.1627 1.1768

GBPUSD

The pair extended Friday’s corrective slide into Monday’s Asian trading and hit fresh two-day lows of 1.2848, before entering a phase of downside consolidation near 1.2870 region. The 1.2835-30 region is currently acting as the support level and on the flip side the 1.2920-30 region once again becomes immediate resistance, though the key hurdle remains near the 1.3000 handle.

GBPUSD-21-01-2019

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.2776 1.2812 1.2832 1.2868 1.2887 1.2924 1.2943
WEEKLY 1.2364 1.2517 1.2696 1.2849 1.3028 1.3181 1.3360
MONTHLY 1.2179 1.2328 1.2543 1.2692 1.2907 1.3056 1.3271

GOLD

Gold is currently trading largely unchanged on the day at 1282 level. The yellow metal fell by 0.8 percent on Friday, confirming a downside break of the two-week long narrowing price range. An extended period of consolidation is often followed by a big move in the direction of the breakout. As a result, gold could soon drop to the support of the trendline connecting the Nov. 13 and Nov. 28 lows. Currently the support is seen at 1264.

Gold-21-01-2019

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1278.60 1279.55 1280.80 1281.75 1283.00 1283.95 1285.20
WEEKLY 1259.76 1269.93 1276.26 1286.43 1292.76 1302.93 1309.26
MONTHLY 1183.20 1204.90 1243.10 1264.80 1303.00 1324.70 1362.90