USD/JPY

USD/JPY comes under some selling pressure amid reviving safe-haven demand. Concerns of the corona-virus outbreak in China led to a turnaround in the global risk sentiment on Tuesday. This was evident from a negative trading mood around equity markets and reinforced by a downfall in the US Treasury bond yields. USD/JPY is expected to find support at 109.89 and a fall through could take it to the support level of 109.64. On the other side, resistance stands at 110.02 and a rise through could take it to the level of 110.19.

USDJPY_21_01_20

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
1 DAY 110.01 110.06 110.12 110.17 110.23 110.28 110.34
1 WEEK 108.79 109.12 109.64 109.97 110.49 110.82 111.34
1 MONTH 106.80 107.61 108.11 108.92 109.42 110.23 110.73

EURUSD

EUR/USD struggles to hold onto 1.11 amid trade headlines, ahead of data. The pair is trading below 1.11, struggling to recover. Presidents Trump and Macron agreed to refrain from slapping tariffs on the eve of the Davos gathering. The German ZEW figures are due out. EUR/USD is expected to find support at 1.1081 and a fall through could take it further to the support level of 1.1066. On the other side, resistance stands at 1.1104 and a rise through could take it to the next resistance level of 1.1118.

EURUSD_21_01_20

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
1 DAY 1.1055 1.1066 1.1081 1.1092 1.1107 1.1118 1.1134
1 WEEK 1.0972 1.1029 1.1060 1.1117 1.1148 1.1205 1.1236
1 MONTH 1.0825 1.0914 1.1063 1.1152 1.1301 1.1390 1.1539

GBPUSD

GBP/USD clings onto 1.30 ahead of critical UK jobs figures. The pair is trading around 1.30 as tension mounts ahead of the UK jobs report, a key to the BOE’s rate decision next week. The House of Lords has marginally delayed the approval of the Brexit deal. GBP/USD is expected to find support at 1.2980 and a fall through could take it to the next support level of 1.2945. On the other side, resistance stands at 1.3026 and a rise through could take it to the next resistance level of 1.3043.

GBPUSD_21_01_20

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
1 DAY 1.2926 1.2945 1.2975 1.2994 1.3023 1.3043 1.3072
1 WEEK 1.2768 1.2860 1.2935 1.3027 1.3102 1.3194 1.3269
1 MONTH 1.2312 1.2604 1.2932 1.3224 1.3552 1.3844 1.4172

GOLD

Gold prices seesaw near $1,560/61 during Tuesday’s session. The yellow metal rose on Tuesday after the International Monetary Fund (IMF) kept its gloomy outlook for 2020, but later dropped back to $1,560 level. Gold is expected to find support at 1,559.80 and a fall through could take it to the support level of 1,554.10. On the other side, resistance stands at 1,566.30, and a rise through could take it to the level of 1,569.80.

Gold_21_01_20

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
1 DAY 1551.35 1554.15 1557.70 1560.20 1563.75 1566.25 1569.80
1 WEEK 1516.74 1526.57 1543.44 1553.27 1570.14 1579.97 1596.84
1 MONTH 1409.74 1434.77 1478.94 1503.97 1548.14 1573.17 1617.34