USD/JPY

USD/JPY fails to respect the key risk catalysts while portraying the broad US dollar strength, currently trading near 107.20, during the initial Tokyo session on Thursday. US dollar holds broad gains amid risk aversion. USD/JPY is expected to find support at 106.91, and a fall through could take it to the support level of 106.66. On the other side, resistance stands at 107.76, and a rise through could take it to the level of 108.16.

USDJPY-02-04-2020

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
1 DAY 105.69 106.30 106.73 107.34 107.77 108.38 108.81
1 WEEK 102.57 105.16 106.54 109.13 110.51 113.10 114.48
1 MONTH 91.38 96.28 101.92 106.82 112.46 117.36 123.00

EURUSD

EUR/USD is on the defensive below 1.0970. The currency pair has erased more than 40 percent of the recent rise from 1.0636 to 1.1148 seen in the five trading days to March 27. Dollar draws haven bids, keeping EUR/USD under pressure. EUR/USD is expected to find support at 1.0906 and a fall through could take it further to the support level of 1.0869. On the other side, resistance stands at 1.0993, and a rise through could take it to the next resistance level of 1.1039.

EURUSD-02-04-2020

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
1 DAY 1.0761 1.0832 1.0898 1.0969 1.1035 1.1106 1.1173
1 WEEK 1.0291 1.0464 1.0802 1.0975 1.1313 1.1486 1.1825
1 MONTH 0.9755 1.0196 1.0611 1.1052 1.1467 1.1908 1.2323

GBPUSD

GBP/USD keeps eyes on the coronavirus (COVID-19) clues while flashing mild gains above 1.24 during the initial European open trading. In addition to the virus headlines, the US Jobless Claims will also be the key to follow. GBP/USD is expected to find support at 1.2322 and a fall through could take it to the next support level of 1.2280. On the other side, resistance stands at 1.2482, and a rise through could take it to the next resistance level of 1.2520.

GBPUSD-02-04-2020

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
1 DAY 1.2209 1.2269 1.2333 1.2383 1.2437 1.2497 1.2550
1 WEEK 1.0734 1.1090 1.1774 1.2130 1.2814 1.3170 1.3853
1 MONTH 0.9693 1.0551 1.1485 1.2343 1.3277 1.4135 1.5069

GOLD

Gold prices fail to hold onto the previous day’s recovery gains. The yellow metal remains inside a one-week-old descending trend channel while also staying below 200-bar SMA. Gold is expected to find support at the level of 1,574.20 and a fall through could take it to 1,561.50 level. On the other side, resistance stands at 1,599.40, and a rise through could take it to 1,610.10 level.

Gold-02-04-2020

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
1 DAY 1537.74 1556.87 1574.14 1593.27 1610.54 1629.67 1646.94
1 WEEK 1308.16 1379.53 1432.06 1503.43 1555.96 1627.33 1679.86
1 MONTH 1207.86 1329.43 1460.76 1582.33 1713.66 1835.23 1966.56