EURUSD, USDJPY, GBPUSD TA, Pivot Points May 20 2015

EURUSD Daily Pivots

R3	1.1483
R2	1.1403
R1	1.1275
Pivot	1.1197
S1	1.1068
S2	1.0988
S3	1.086

EURUSD (1.1138): EURUSD continued its decline yesterday posting second day of losses after the bearish engulfing candlestick formed earlier this week on Monday. On the intraday charts, after 1.13575 failed to support prices EURUSD promptly declined to 1.117 and is trading below this next support. Further downside is very likely with the next major support at 1.10034 through 1.10052 getting ready to be tested. A break below this could see a drop to 1.082 levels.

To the upside, price will have to establish support at 1.11705 in order to anticipate any gains to the upside with the previous broken support levels likely to come in as resistance.

USDJPY Daily Pivots

R3	121.905
R2	121.323
R1	121.003
Pivot	120.413
S1	120.101
S2	119.511
S3	119.191

USDJPY (120.87): USDJPY continues to push along higher with three days of gains after the doji reversal candlestick that was formed around 14th May, 2015. On the intraday charts, price action managed to break above 120.28 and eventually broke higher ground, closing above 120.78. Price action needs to find support here in order to push higher, but the support at 120.28 is also a level that could be tested. To the upside 121.175 is likely to be the next level to the upside.

GBPUSD Daily Pivots

R3	1.5859
R2	1.5764
R1	1.5636
Pivot	1.5542
S1	1.5414
S2	1.5317
S3	1.5191

 

GBPUSD (1.552): GBPUSD has seen three straight days of declines and price is currently near 1.1552 support/resistance level. A daily close above this level is needed in order to ascertain further upside gains in the Cable. Failure to close above 1.1552 could see a possible test lower to 1.5324 on the daily charts.

Switching to the intraday charts, price action has been consolidating near the previous resistance level, which if prices hold could see a successful test of support. However, a break lower could see price fall out of the rising price channel and could see a sharp decline to 1.496.

Source:http://www.forexcrunch.com/eurusd-usdjpy-gbpusd-ta-pivot-points-may-20-2015/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+ForexCrunch+%28Forex+Crunch%29

Sold Yen, +12 pips

Hello Traders

Managed to scrap 12 pips out of the Yen today (looks like is becoming a habit!)

Happy trading

Alberto

Short positon on Yen, 10 pips lock in

Hello traders

Entered a short position on Yen on Friday at the 120.000 level, as it happends as soon as I got triggered, price when to 120.200 till market closure

Market opens and it goes for a bit of indecision

And finally today (Tuesday) price when below the 120.000 level, locking in some profit in case it decide to retrace again.

Happy trading

Good things come to those who wait Long position on Yen

Hi Traders

As you can see sometimes it take a bit of time to get things moving your way, I entered a long position  on Yen yesterday, as soon as I did, guest what?, you got it, it went south and spend most of the night there (luckly didn't hit my stop lost) only for going back long in the morning, locked ten pips (because you never know) and now it on is way.

 

Happy trading

Alberto 

Yen taking a rest for now, will it reach the 140 level?

Hi Traders

Just checking how is the Yen developing, looks like is unable to break resistance level 120.320 (at least for the time being), there is some speculation that if it break it could go as far as 140 level, what do you guy think?

Happy trading

Alberto

Yen back to 2007 level, will be break resistance level?

Hi Traders

Have been checking the Yen lately and it is now back to 2007 level consolidating around resistance level of 120.320, any takers for going long on this one?

Happy trading

Alberto