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After analyzing the pair NZDJPY Today's analysis 6/23/2014 I came to this conclusion. While the price is taking Up direction I think 88.61
might turn out to be a very strong support level which will be considered as a selling point if the it was broken by candle stick which will close under it. Otherwise we are to consider it a buying position. On the other hand the price 88.84 might turn out to be a strong resistance level which on the contrary with the support level we will start buying if the price breaks it or selling if the price rebounds. .
http://uploadyourimages.org/upload/s...75d042d395.JPG
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http://prntscr.com/3uy53w
analysis for today 6 / 23 / 2014
Below is the formula to determine the pivot point, support and resistance.
Information candle NZDJPY on the date 6 / 20 / 2014
OPEN 88.82
HIGH 88.86
LOW 88.60
CLOSED 88.73
The third resistance (R3) 88.86 - ( 88.73 - 88.60 = 0.13 x 2 = 0.26 )= 89.12
The second Resistance (R2) 88.73 + 88.86 - 88.60 = 88.99
First resistance (R1) 88.73 x 2 = 177.46 - 88.60 = 88.86
pivot points 88.86 + 88.60 + 88.73 = 266.19 / 3 = 88.73
Support for the first (S1) 88.73 x 2 = 177.46 - 88.86 = 88.60
Support second (S2) 88.73 - ( 88.86 - 88.60 = 0.26 ) = 88.47
Third Support (S3) 88.60 - ( 88.86 - 88.73 = 0.13 x 2 = 0.26 )= 88.34
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pair- nzd/jpy
chart analysis time frame- m30
http://i62.tinypic.com/20gz89e.jpg
the price is moving up side with breaking the resistance trend line at the 88.80 level and moved to the daily resistance level three at 89.09 level. the rsi is showing overbought so down movement can expected. short with the profit target at 88.70 and stop loss at 89.20
good luck
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http://prntscr.com/3vok84
analysis for today 6 / 23 / 2014
NZD/JPY (Daily Trade)
I think the movement is still in a bearish trend
retracement (38.2%) 88.70
Retracement (50%) 88.73
retracement (61,8%) 88.76
Extensions (61.8%) 88.44
Extensions (100.0%) 88.34
Extensions (138.2%) 88.24
Extensions (161.8%) 88.18
calculation based on a Fibonacci retracement then today I choose sell
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http://prntscr.com/3vwdlb
analysis for today 6 / 24 / 2014
NZD/JPY
Resistance : R1 89.37 R2 89.62 R3 89.82 R4 90.12
Support : S1 88.10 S2 87.85 S3 87.65 S4 87.35
Open : 88.75
High : 88.85
Low : 88.62
Range : .23 Pips
Running Price : 88.78
Strategy : BUY at the level 88.78 stop loss at the level 88.10 target take profit at the level 89.82 or at the level 90.12
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NZDJPY will likely go down a little correction in the European session. Then the journey will continue rising to near 87.06 or may be able to achieve the level of 87.35. It is seen from Stoch indicator that already shows a position to buy.
http://s14.postimg.org/5luufrsyp/bieela_2014_06_24.jpg
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pair- nzd/jpy
chart analysis time frame- m30
http://i61.tinypic.com/n3adef.jpg
the price is making doji pattern at the daily pivot point level 88.84 and moving down side. the macd indicator is also moving towards the zero level. the down movement can see to the support at 88.58 then again correction expected. if support is break then make short entry with profit target at 88.20 level.
good luck
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http://prntscr.com/3vz2rr
analysis for today 6 / 24 / 2014
Below is the formula to determine the pivot point, support and resistance.
Information candle NZDJPY on the date 6 / 23 / 2014
OPEN 88.80
HIGH 89.14
LOW 88.64
CLOSED 88.76
The third resistance (R3) 89.14 - ( 88.85 - 88.64 = 0.21 x 2 = 0.41 )= 89.55
The second Resistance (R2) 88.85 + 89.14 - 88.64 = 89.35
First resistance (R1) 88.85 x 2 = 177.69 - 88.64 = 89.05
pivot points 89.14 + 88.64 + 88.76 = 266.54 / 3 = 88.85
Support for the first (S1) 88.85 x 2 = 177.69 - 89.14 = 88.55
Support second (S2) 88.85 - ( 89.14 - 88.64 = 0.50 ) = 88.35
Third Support (S3) 88.64 - ( 89.14 - 88.85 = 0.29 x 2 = 0.59 )= 88.05
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http://prntscr.com/3w1q0s
analysis for today 6 / 24 / 2014
NZD/JPY (Daily Trade)
I think the movement is still in a bearish trend
retracement (38.2%) 88.83
Retracement (50%) 88.89
retracement (61,8%) 88.95
Extensions (61.8%) 88.33
Extensions (100.0%) 88.14
Extensions (138.2%) 87.95
Extensions (161.8%) 87.83
calculation based on a Fibonacci retracement then today I choose sell
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http://prntscr.com/3w9vil
analysis for today 6 / 25 / 2014
NZD/JPY
Resistance : R1 88.97 R2 89.22 R3 89.42 R4 89.72
Support : S1 87.68 S2 87.43 S3 87.23 S4 86.93
Open : 88.38
High : 88.43
Low : 88.22
Range : .21 Pips
Running Price : 88.37
Strategy : SELL at the level 88.37 stop loss at the level 88.97 target take profit at the level 87.23 or at the level 86.93
