USD/JPY

USD/JPY makes rounds to 105.50 during the initial hours of the European open on Friday. While the pre-NFP trading lull could be cited as the pair’s recent inactivity after posting three-day losing streak the previous day, risk catalysts may provide a further weakening of the quote. USD/JPY could find support at 105.31 and a fall through may take it further to the support level of 105.10. On the other side, resistance could stand at 105.74, and a rise through may take it to the next resistance level of 105.92.
USDJPY_07_08_2020

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
1 DAY 104.91 105.10 105.33 105.52 105.75 105.94 106.16
1 WEEK 102.63 103.40 104.65 105.43 106.68 107.46 108.71
1 MONTH 100.00 102.09 103.99 106.08 107.98 110.07 111.97

EURUSD

EUR/USD has dipped in the previous session as losses in US stock futures have lifted the greenback. US President Trump has ordered the banning of Chinese social media apps and the Sino-US tensions overshadowed the surge in Chinese exports and weigh over riskier assets. The pair is currently attempting a comeback and trades at 1.1845. EUR/USD could find support at 1.1819 and a fall through may take it further to the support level of 1.1802. On the other side, resistance could stand at 1.1871, and a rise through may take it to the next resistance level of 1.1893.
EURUSD_07_08_2020

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
1 DAY 1.1724 1.1771 1.1823 1.1780 1.1922 1.1969 1.2021
1 WEEK 1.1366 1.1501 1.1638 1.1774 1.1911 1.2047 1.2184
1 MONTH 1.0611 1.0898 1.1336 1.1623 1.2061 1.2348 1.2786

GBPUSD

GBP/USD slipped from five-month high amid fresh US dollar buying, however the Cable is currently trading back to 1.3125. Market sentiment has turned sour with American deadlock over stimulus, US-China, Washington-Ottawa tussles to add worries to market. Brexit, aid package and US jobs report will be the key to watch today. GBP/USD could find support at 1.3096 and a fall through may take it further to the support level of 1.3075. On the other side, resistance could stand at 1.3154, and a rise through may take it to the next resistance level of 1.3178.
GBPUSD_07_08_2020

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
1 DAY 1.3036 1.3073 1.3111 1.3149 1.3187 1.3225 1.3262
1 WEEK 1.2466 1.2623 1.2857 1.3014 1.3248 1.3405 1.3638
1 MONTH 1.1762 1.2060 1.2575 1.2873 1.3388 1.3686 1.4200

GOLD

Gold extends its choppy trend after refreshing the all-time-high at $2,075 in the previous session. The yellow metal currently lacks a clear directional bias heading into the critical US NFP later in the day. Gold could find support at 2,045.40 and a fall through may take it further to the support level of 2,035.30. On the other side, resistance could stand at 2,075.60, and a rise through may take it to the next resistance level of 2,087.30.
Gold_07_08_2020

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
1 DAY 2007.60 2022.40 2040.40 2055.20 2073.20 2088.00 2106.00
1 WEEK 1832.06 1865.53 1914.16 1947.63 1996.26 2029.73 2078.36
1 MONTH 1603.49 1684.97 1829.44 1910.92 2055.39 2136.87 2281.34