USDJPY

Intraday bias in USDJPY remains neutral and outlook is unchanged. The US Dollar recovered recently after trading to a new monthly low at 110.10 against the Japanese Yen. Support still resides at 110.63, and a clear break from here could take it to the next support level of 110.28. On the flip side resistance stands at 111.28, and a rise through could take it to the next resistance level of 111.49.

USDJPY

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 109.96 110.21 110.62 110.87 111.28 111.53 111.94
WEEKLY 109.40 109.95 110.44 110.99 111.48 112.03 112.52
MONTHLY 107.50 108.89 110.39 111.78 113.28 114.67 116.17
 

EURUSD

The common currency could pick up a strong bid if the Eurozone July CPI prints above the estimate of 0.3 percent month-on-month drop. A convincing move below the 1.1327 hurdle could take it further down to the support level of 1.1306. Conversely, resistance stands at 1.1406, and a rise through here could take it to the next resistance level of 1.1433.

 EURUSD

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.1262 1.1299 1.1335 1.1372 1.1408 1.1445 1.1481
WEEKLY 1.1076 1.1230 1.1321 1.1475 1.1566 1.1720 1.1811
MONTHLY 1.1360 1.1466 1.1578 1.1684 1.1796 1.1902 1.2014
 

GBPUSD

The pair is seeing cautious play just above 1.2700 as the Cable continues to lift from the week's low of 1.2660, but Brexit concerns continue to hang over all other issues for the UK, and continued failure to see an aversion of a hard Brexit scenario will see confidence in the GBP evaporate once again. The short-term picture for the GBPUSD pair is neutral-to-bearish. Support is seen at 1.2686 with resistance at 1.2776 area.

  GBPUSD

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.2615 1.2651 1.2682 1.2718 1.2749 1.2785 1.2816
WEEKLY 1.2359 1.2541 1.2655 1.2837 1.2951 1.3133 1.3247
MONTHLY 1.2527 1.2742 1.2934 1.3149 1.3341 1.3556 1.3748
 

GOLD

Key support for the precious metal still stand at 1,160 level and if the bears dominate here, we could witness 1150.36 region exposed. To the upside, a rebound is required in order to clear the upside toward 1178.92 and a rise through from here could take it to the next resistance level of 1187.58. Intraday bias for gold is bearish in the short term.

  GOLD

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1148.10 1157.60 1169.90 1179.40 1191.70 1201.20 1213.50
WEEKLY 1194.86 1200.23 1205.66 1211.03 1216.46 1221.83 1227.26
MONTHLY 1152.24 1181.97 1202.84 1232.57 1253.44 1283.17 1304.04