USD/JPY

USD/JPY entered a phase of bullish consolidation on the 110.00 handle, as the bulls await the US CPI data for the next push higher. The risk-on action seen in the global equities in the wake of the optimism surrounding US-China phase one trade deal, helps keep the upbeat momentum in the pair. USD/JPY is expected to find support at 109.72 and a fall through could take it to the support level of 109.43. On the other side, resistance stands at 110.37 and a rise through could take it to the level of 110.68.

USDJPY_14_01_2020

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
1 DAY 109.20 109.37 109.69 109.86 110.18 110.35 110.68
1 WEEK 106.12 106.88 108.18 108.94 110.24 111.00 112.30
1 MONTH 106.80 107.61 108.11 108.92 109.42 110.23 111.73

EURUSD

EUR/USD is flashing green, but the momentum of the bullish move from 1.1085 looks to have run out of steam in the 10-pip range of 1.1140-1.1150. An above-forecast China data failed to put a bid under the EUR in Asia, as focus now shifts to US inflation data. EUR/USD is expected to find support at 1.1128 and a fall through could take it further to the support level of 1.1115. On the other side, resistance stands at 1.1152 and a rise through could take it to the next resistance level of 1.1166.

EURUSD_14_01_2020

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
1 DAY 1.1082 1.1097 1.1115 1.1131 1.1149 1.1165 1.1183
1 WEEK 1.0945 1.1015 1.1068 1.1138 1.1191 1.1261 1.1314
1 MONTH 1.0825 1.0914 1.1063 1.1152 1.1301 1.1390 1.1539

GBPUSD

GBP/USD remains well below the 1.30 handle, having failed several attempts to extend any recovery. Poor UK macro data, increased BOE rate cut calls dent the pound, as the US dollar recovers some ground across the board. GBP/USD is expected to find support at 1.2989 and a fall through could take it to the next support level of 1.2963. On the other side, resistance stands at 1.3042 and a rise through could take it to the next resistance level of 1.3068.

GBPUSD_14_01_2020

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
1 DAY 1.2868 1.2915 1.2951 1.2998 1.3035 1.3081 1.3118
1 WEEK 1.2779 1.2896 1.2979 1.3096 1.3179 1.3296 1.3379
1 MONTH 1.2312 1.2604 1.2932 1.3224 1.3552 1.3844 1.4172

GOLD

Gold slips to 11-day low as risk assets draw bids. At press time, the yellow metal is trading at $1,542 per Oz, having reached the lowest level of $1,537 since Jan. 3. Prices are currently down nearly 4.3% from the six-year high of $1,611 reached last week. Gold is expected to find support at 1,533.30 and a fall through could take it to the support level of 1,525.60. On the other side, resistance stands at 1,548.70, and a rise through could take it to the level of 1,556.80.

GOLD_14_01_2020

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
1 DAY 1527.94 1537.47 1544.04 1553.57 1560.14 1569.67 1576.24
1 WEEK 1457.34 1499.17 1529.64 1571.47 1601.94 1643.77 1674.24
1 MONTH 1409.74 1434.77 1478.94 1503.97 1548.14 1573.17 1617.34