USD/JPY

USD/JPY edged lower for the second straight session on Wednesday amid a softer USD. Retreating US bond yields turned out to one of the key factors weighing on the greenback. USD/JPY could find support at 103.51 and a fall through may take it further to the support level of 103.36. On the other side, resistance could stand at 103.80 and a rise through may take it to the next resistance level of 103.97.
USDJPY_13_01_2021

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
1 DAY 102.91 103.31 103.53 103.94 104.16 104.56 104.78
1 WEEK 101.47 102.03 102.98 103.54 104.50 105.05 106.01
1 MONTH 100.59 101.73 102.48 103.62 104.37 105.51 106.25

EURUSD

EUR/USD trades above 1.22 as US yields retreat from multi-month highs. The pullback in yields could be temporary as US fiscal stimulus expectations persist. The US CPI and Lagarde’s speech could influence market trends on Wednesday. EUR/USD could find support at 1.2195 and a fall through may take it further to the support level of 1.2172. On the other side, resistance could stand at 1.2232, and a rise through may take it to the next resistance level of 1.2255.
EURUSD_13_01_2021

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
1 DAY 1.2085 1.2111 1.2159 1.2185 1.2234 1.2259 1.2308
1 WEEK 1.1997 1.2094 1.2156 1.2253 1.2315 1.2412 1.2473
1 MONTH 1.1605 1.1765 1.1989 1.2150 1.2374 1.2535 1.2758

GBPUSD

GBP/USD consolidates gains below 1.3700 amid the US dollar’s decline. BOE’s Bailey ruled out negative rates. The UK government faces challenges from the growing virus count. US policymaker push for Trump’s impeachment. GBP/USD could find support at 1.3662 and a fall through may take it further to the support level of 1.3644. On the other side, resistance could stand at 1.3710, and a rise through may take it to the next resistance level of 1.3729.
GBPUSD_13_01_2021

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
1 DAY 1.3387 1.3445 1.3555 1.3613 1.3722 1.3781 1.3890
1 WEEK 1.3323 1.3427 1.3795 1.3600 1.3668 1.3773 1.3841
1 MONTH 1.2756 1.2945 1.3309 1.3498 1.3862 1.4051 1.4414

GOLD

Gold looks to build onto Tuesday’s rebound on Wednesday. The US dollar’s decline alongside the Treasury yields is keeping the XAU buyers hopeful. Gold could find support at 1,845.90 and a fall through may take it further to the support level of 1,836.70. On the other side, resistance could stand at 1,868.30, and a rise through may take it to the next resistance level of 1,874.70.
Gold_13_01_2021

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
1 DAY 1803.80 1819.80 1832.00 1848.00 1860.20 1876.20 1888.40
1 WEEK 1653.26 1740.53 1787.96 1875.23 1922.66 2009.93 2057.36
1 MONTH 1678.06 1728.23 1811.66 1861.83 1945.26 1995.43 2078.86