USD/JPY

USD/JPY drops to 106.24 as markets in Europe open for Tuesday’s trading. The yen pair recently reacted to better than forecast prints of the second quarter Japanese GDP. The latest risk catalysts will be the key amid a light data calendar ahead. USD/JPY could find support at 106.09 and a fall through may take it further to the support level of 105.97. On the other side, resistance could stand at 106.39, and a rise through may take it to the next resistance level of 106.52.
USDJPY-08-09-2020

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
1 DAY 105.85 105.99 106.11 106.25 106.38 106.51 106.64
1 WEEK 104.24 104.77 105.50 106.03 106.77 107.29 108.03
1 MONTH 103.02 104.06 104.98 106.02 106.94 107.98 108.90

EURUSD

EUR/USD recovers losses and jumps back above 1.1800 despite the mixed German Trade and Current Account data. The further upside, however, appears elusive amid dovish European Central Bank expectations and renewed Brexit tensions. EUR/USD could find support at 1.1794 and a fall through may take it further to the support level of 1.1775. On the other side, resistance could stand at 1.1838, and a rise through may take it to the next resistance level of 1.1859.
EURUSD-08-09-2020

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
1 DAY 1.1764 1.1788 1.1803 1.1826 1.1841 1.1864 1.1879
1 WEEK 1.1511 1.1646 1.1742 1.1877 1.1973 1.2108 1.2205
1 MONTH 1.1495 1.1595 1.1765 1.1866 1.2036 1.2137 1.2307

GBPUSD

GBP/USD seesaws around 1.3140 after refreshing two-week low with 1.3126. The pair will keep eyes on the Brexit talks and how the US traders react to the latest risk moves before policymakers from the European Union travel the UK for the eighth round of trade negotiations. GBP/USD could find support at 1.3107 and a fall through may take it further to the support level of 1.3083. On the other side, resistance could stand at 1.3171, and a rise through may take it to the next resistance level of 1.3203.
GBPUSD-08-09-2020

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
1 DAY 1.2964 1.3052 1.3109 1.3197 1.3254 1.3342 1.3398
1 WEEK 1.2836 1.3006 1.3143 1.3143 1.3451 1.3620 1.3758
1 MONTH 1.2687 1.2834 1.3102 1.3249 1.3517 1.3664 1.3933

GOLD

Gold remained under pressure amid US holiday-led light trading and settled Monday around $1929, having formed lower highs for the fourth straight session. The renewed US-China tensions and falling Treasury yields could assist with a bounce in the yellow metal. Gold could find support at 1,924.20 and a fall through may take it further to the support level of 1,917.70. On the other side, resistance could stand at 1,937.90, and a rise through may take it to the next resistance level of 1,945.40.
Gold-08-09-2020

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
1 DAY 1912.29 1921.37 1929.24 1938.32 1946.19 1955.27 1963.14
1 WEEK 1823.94 1872.77 1903.54 1952.37 1983.14 2031.97 2062.74
1 MONTH 1676.10 1776.30 1877.45 1977.65 2078.80 2179.00 2280.15