USD/JPY

USD/JPY slides for the third consecutive session on Thursday. Concerns about coronavirus benefitted JPY’s safe-haven status while a subdued USD price action did little to stall the ongoing slide. USD/JPY is expected to find support at 109.43 and a fall through could take it to the support level of 109.12. On the other side, resistance stands at 109.67 and a rise through could take it to the level of 110.00.

USDJPY_23_01_20​​

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
1 DAY 109.13 109.40 109.56 109.83 109.99 110.26 110.42
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 is lacking a clear directional bias ahead of the all-important European Central Bank (ECB) rate decision and trades in the 1.1120-1.1070 range. ECB is expected to keep rates unchanged and announce start of the strategy review. EUR/USD is expected to find support at 1.1075 and a fall through could take it further to the support level of 1.1049. On the other side, resistance stands at 1.1100 and a rise through could take it to the next resistance level of 1.1116.

EURUSD_23_01_20

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
1 DAY 1.1049 1.1060 1.1077 1.1088 1.1106 1.1116 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 is attempting a move upward, after the pair has snapped the three-day winning streak. GBP/USD ignored the UK PM Johnson’s ability to end the years of Brexit deadlock by winning support for his Brexit Withdrawal Agreement Bill and dropped to 1.3115 but is currently seen recovering. GBP/USD is expected to find support at 1.3111 and a fall through could take it to the next support level of 1.3086. On the other side, resistance stands at 1.3152 and a rise through could take it to the next resistance level of 1.3186.

GBPUSD_23_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 1.2952 1.2994 1.3069 1.3111 1.3186 1.3228 1.3304
1 MONTH 1.2312 1.2604 1.2932 1.3224 1.3552 1.3844 1.4172
 

GOLD

Gold prices turn mildly weak while flashing $1,555.70 as a quote during the early Thursday. The yellow metal’s failure to register much upside, despite being above near-term key supports amid overbought RSI conditions, increases the odds for the pullback. Gold is expected to find support at 1,551.90 and a fall through could take it to the support level of 1,548.50. On the other side, resistance stands at 1,559.70, and a rise through could take it to the level of 1,563.50.

GOLD_23_01_20

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
1 DAY 1523.01 1534.58 1545.46 1557.03 1567.91 1579.48 1590.36
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