USDJPY

USD/JPY is not impressed after BOJ kept the interest unchanged and upgraded the assessment of overseas economies, trading on the same levels as before. Resistance stands at 106.75 and a break above might lead 107.00 area. A clear break below the key support level of 105.25 might lead to short term downtrend towards 105.00 as 104.00 is exposed.

USDJPY-12-03-2018

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 105.54 105.72 106.08 106.26 106.62 106.80 107.16
WEEKLY 102.33 103.79 104.77 106.23 107.21 108.67 109.65
MONTHLY 99.71 102.62 104.65 107.56 109.59 112.50 114.53

EURUSD

EUR/USD pair is trading lower at 1.2300 handle after ECB) removed the easing bias from QE language but countered it by saying rates would remain negative for an extended period with President Draghi be cautious on inflation. A clear break below 1.2300 might indicate downside movement towards 1.2200 level as 1.2100 is exposed. On the upside, a breakout of 1.2350 might lead to 1.2400 resistance area as 1.2600 is on the horizon.

EURUSD-12-03-2018

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.2106 1.2202 1.2254 1.2350 1.2402 1.2498 1.2550
WEEKLY 1.1995 1.2074 1.2196 1.2275 1.2397 1.2476 1.2598
MONTHLY 1.1702 1.1945 1.2070 1.2313 1.2438 1.2681 1.2806

GBPUSD

GBPUSD is trying to hang onto the 1.3800 handle heading into the London markets as it been dragged down by Brexit concerns despite upbeat economic data for the UK and a positive outlook (BoE). Support stands at 1.3800 and a clear break below might indicate downside movement towards 1.3700 level. Key resistance holds at 1.3900 level and a break above will target the next resistance area 1.4000.

GBPUSD-12-03-2018

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.3626 1.3704 1.3754 1.3832 1.3882 1.3960 1.4010
WEEKLY 1.3295 1.3504 1.3654 1.3863 1.4013 1.4222 1.4372
MONTHLY 1.3062 1.3406 1.3584 1.3931 1.4106 1.4453 1.4628

GOLD

Gold prices extended losses as the dollar strengthened on news that North Korean leader Kim Jong-un pledged to suspend nuclear and missile testing. Support stands at 1316 and a clear break below will target 1300 handle. Resistance stands at 1327 and a clear break that level might lead to upside movement as 1330 is on the horizon.

GOLD-12-03-2018

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1307.34 1313.47 1317.54 1323.67 1327.74 1333.87 1337.94
WEEKLY 1264.40 1284.00 1303.70 1323.30 1343.00 1362.60 1382.30
MONTHLY 1241.06 1275.03 1296.46 1330.43 1351.80 1385.83 1407.26