USD/JPY

USD/JPY attempts to recover the previous session’s losses while trading at 104.36, off the intraday low 104.26 registered earlier. Risk dwindles as virus woes combat hopes of further stimulus and geopolitical headlines. Markets in Tokyo are off for Respect-for-the-Aged Day. USD/JPY could find support at 104.12 and a fall through may take it further to the support level of 103.94. On the other side, resistance could stand at 104.48, and a rise through may take it to the next resistance level of 104.70.
USDJPY-21-09-2020

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
1 DAY 104.30 104.37 104.46 104.52 104.61 104.67 104.76
1 WEEK 101.86 103.06 103.81 105.01 105.76 106.96 107.70
1 MONTH 103.02 104.06 104.98 106.02 106.94 107.98 108.90

EURUSD

EUR/USD is trading above 1.1850, holding onto recent gains. The uptrend, however, at risk as coronavirus cases rise across the Eurozone. New lockdown restrictions may force the ECB to adopt a stronger dovish stance. Focus shifts to Powell’s speech, EZ Preliminary PMIs. EUR/USD could find support at 1.1844 and a fall through may take it further to the support level of 1.1829. On the other side, resistance could stand at 1.1877, and a rise through may take it to the next resistance level of 1.1891.
EURUSD-21-09-2020

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
1 DAY 1.1831 1.1836 1.1841 1.1846 1.1852 1.1856 1.1862
1 WEEK 1.1586 1.1661 1.1749 1.1825 1.1913 1.1989 1.2077
1 MONTH 1.1495 1.1595 1.1765 1.1866 1.2036 1.2137 1.2307

GBPUSD

GBP/USD trades near the mid-1.2900s following three successive failures to cross 1.3000 during last week. UK’s health authorities contemplate lockdown restrictions while Chancellor Sunak may extend business support loans. GBP/USD could find support at 1.2935 and a fall through may take it further to the support level of 1.2914. On the other side, resistance could stand at 1.2985, and a rise through may take it to the next resistance level of 1.3000.
GBPUSD-21-09-2020

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
1 DAY 1.2884 1.2897 1.2915 1.2928 1.2946 1.2959 1.2977
1 WEEK 1.2558 1.2667 1.2790 1.2899 1.3023 1.3131 1.3255
1 MONTH 1.2687 1.2834 1.3102 1.3249 1.3517 1.3664 1.3933

GOLD

Gold is trading in a narrowing price range keeping its multi-week consolidation mode. The yellow metal is trading at $1,950 per ounce at press time, representing a 0.13% gain on the day. Gold could find support at 1,944.80 and a fall through may take it further to the support level of 1,940.30. On the other side, resistance could stand at 1,954.20, and a rise through may take it to the next resistance level of 1,959.10.
Gold-21-09-2020

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
1 DAY 1946.24 1949.67 1952.24 1955.67 1958.24 1961.67 1964.24
1 WEEK 1893.34 1915.77 1938.94 1961.37 1984.54 2006.97 2030.14
1 MONTH 1657.14 1765.67 1872.14 1980.67 2087.14 2195.67 2302.14