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analysis for today 11 / 3 / 2014
Below is the formula to determine the pivot point, support and resistance.
Information candle EUR/JPYon the date 10 / 31 / 2014
OPEN 137.75
HIGH 140.78
LOW 137.67
CLOSED 140.66
The third resistance (R3) 140.78 - ( 139.70 - 137.67 = 2.03 x 2 = 4.07 )= 144.85
The second Resistance (R2) 139.70 + 140.78 - 137.67 = 142.81
First resistance (R1) 139.70 x 2 = 279.41 - 137.67 = 141.74
pivot points 140.78 + 137.67 + 140.66 = 419.11 / 3 = 139.70
Support for the first (S1) 139.70 x 2 = 279.41 - 140.78 = 138.63
Support second (S2) 139.70 - ( 140.78 - 137.67 = 3.11 ) = 136.59
Third Support (S3) 137.67 - ( 140.78 - 139.70 = 1.08 x 2 = 2.15 )= 135.52