EURUSD, GBPUSD, USDJPY Pivot Points, TA – May 26th 2015

EURUSD Daily Pivots

EURUSD (1.0929): EURUSD broke below the 1.10 psychological price level yesterday and looks poised for a possible retest to 1.082 support level as noted in yesterday's analysis. Despite the thin trading conditions, the Euro continued to drift lower but could possibly test the broken support at 1.10 for resistance. It will be interesting to watch how price will react to the 1.082 price level as a break lower could see the Euro resume its bearish trend again, albeit the most important aspect would be to post fresh lows below 1.05, where the next support level comes in.

USDJPY Daily Pivots

USDJPY (121.842): USDJPY continued to push higher yesterday posting fresh highs above 121.575. We could anticipate a dip to this level at 121.575 through the daily pivot level before the currency continues to post fresh highs. This uptrend looks well supported although 121.175 will be a key level to watch in case prices decline. To the upside, the next main price level is 123.978.

GBPUSD Daily Pivots

GBPUSD (1.5448): GBPUSD has been moving in a range between 1.551 through 1.5455. A break below 1.5455 will likely see the GBPUSD push lower towards 1.5208 where the next support level comes in. To the upside, the GBPUSD will have to break above and possibly establish a strong support at 1.5513 in order to break higher ground closing above 1.58.