USDJPY

USD/JPY pair climbed to 106.84 and is currently settling back to the 106.70 region as risk sentiment sours in the face of the impending US CPI data coupled with the political scandal in the Japanese parliament. Resistance stands at 107.00 and a break above might lead 107.50 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.

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 105.32 105.79 106.03 106.50 106.74 107.21 107.45
WEEKLY 104.06 104.71 105.76 106.41 107.46 108.11 109.16
MONTHLY 99.71 102.62 104.65 107.56 109.59 112.50 114.53

EURUSD

EUR/USD is trading at 1.2330 area ahead of the US inflation data, Resistance stands at 1.2345. A breakout of 1.2345 might lead to 1.2400 resistance area as 1.2500 is on the horizon. A clear break below 1.2290 support area might indicate downside movement towards 1.2200 level as 1.2100 is exposed.

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.2248 1.2269 1.2304 1.2325 1.2360 1.2381 1.2416
WEEKLY 1.2055 1.2162 1.2234 1.2341 1.2413 1.2520 1.2592
MONTHLY 1.1702 1.1945 1.2070 1.2313 1.2438 1.2681 1.2806

GBPUSD

GBP/USD is shaking out earlier trading, declining from a session high of 1.3912 to trade into the 1.3880 region ahead of European markets. Support stands at 1.3880 and a clear break below might indicate downside movement towards 1.3800 level Key resistance holds at 1.3945 level and a break above will target the next resistance area 1.4000.

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.3781 1.3811 1.3858 1.3888 1.3935 1.3965 1.4012
WEEKLY 1.3603 1.3685 1.3767 1.3849 1.3931 1.4013 1.4095
MONTHLY 1.3062 1.3406 1.3584 1.3931 1.4106 1.4453 1.4628

GOLD

Gold is trading lower, as investors look ahead to U.S. inflation data later in the day for clues on inflation and how fast the U.S. Federal Reserve might raise rates. Short term Support stands at 1315 and a clear break below will target 1300 handle. Resistance stands at 1325 and a clear break that level might lead to upside movement as 1345 is on the horizon.

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1307.50 1311.40 1318.50 1322.40 1329.50 1333.40 1340.50
WEEKLY 1282.00 1297.60 1310.80 1326.40 1339.60 1355.20 1368.40
MONTHLY 1241.06 1275.03 1296.46 1330.43 1351.80 1385.83 1407.26