Technical Analysis

USDJPY Under Pressure after Weak U.S. Retail sales – Euro & Pound on the back foot

Published on 2019-02-15 11:14 Share
USDJPY

USDJPY

USD/JPY tumbled to 110.27 earlier in the session, continuing yesterday’s downwards movement after weak US Retail Sales data. The Yen also regained ground amid sizeable losses in the Asian indices. USD/JPY is expected to find support at 110.16, and a fall through could take it to the support level of 109.94. On the other side, resistance stands at 110.65, and a rise through could take it to the level of 110.92.

USDJPY_15_02_2019
TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 109.53 109.97 110.25 110.69 110.98 111.41 111.70
WEEKLY 108.66 109.05 109.39 109.78 110.12 110.51 110.85
MONTHLY 100.87 102.92 105.90 107.95 110.93 112.98 115.96
 

EURUSD

EUR/USD continues the bearish momentum despite weak US data and tighter German-US yield, therefore, the pair is unlikely to see significant gains. EUR/USD is expected to find support at 1.1246 and a fall through could take it further to the support level of 1.1224. On the other side, resistance stands at 1.1324, and a rise through could take it to the next resistance level of 1.1360.

EURUSD_15_02_2019
TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.1199 1.1224 1.1260 1.1286 1.1322 1.1348 1.1384
WEEKLY 1.1130 1.1225 1.1277 1.1372 1.1424 1.1519 1.1571
MONTHLY 1.1014 1.1151 1.1298 1.1435 1.1582 1.1719 1.1866
 

GBPUSD

GBP/USD trades around 1.2800 in the opening of the European session on Friday. The pair declined the previous day after the UK PM Theresa May lost the vote to delay Brexit by three months in the parliament. Brexit developments have been negative for the Pound, and today focus is on the UK Retail Sales to determine near-term moves. GBP/USD is expected to find support at 1.2778 and a fall through could take it to the next support level of 1.2754. On the other side, resistance stands at 1.2853, and a rise through could take it to the next resistance level of 1.2985.

GBPUSD_15_02_2019
TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.2649 1.2711 1.2754 1.2816 1.2859 1.2921 1.2964
WEEKLY 1.2581 1.2717 1.2832 1.2968 1.3083 1.3219 1.3334
MONTHLY 1.1840 1.2139 1.2620 1.2919 1.3400 1.3699 1.4180
 

GOLD

Gold trades close to mid $1,314, during early Friday, enhanced by increasing risks emanating from Brexit, the US-China trade negotiation and the US government shutdown. Weaker US retail sales also supported the yellow metal. Gold is expected to find support at the level of 1,311.55 and a fall through could take it to 1,306.00 level. On the other side, resistance stands at 1,316.80, and a rise through could take it to the next resistance level of 1,321.25.

Gold_15_02_2019

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1293.90 1299.30 1306.60 1312.00 1319.30 1324.70 1332.00
WEEKLY 1291.54 1298.97 1308.74 1316.17 1325.94 1333.37 1343.14
MONTHLY 1244.50 1263.00 1294.10 1312.60 1343.70 1362.20 1393.30

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