analysis for today 12 / 19 / 2014
Below is the formula to determine the pivot point, support and resistance.
Information candle EUR/JPYon the date 12 / 18 / 2014
OPEN 146.42
HIGH 146.74
LOW 145.59
CLOSED 145.99
The third resistance (R3) 146.74 - ( 146.11 - 145.59 = 0.52 x 2 = 1.03 )= 147.77
The second Resistance (R2) 146.11 + 146.74 - 145.59 = 147.26
First resistance (R1) 146.11 x 2 = 292.21 - 145.59 = 146.62
pivot points 146.74 + 145.59 + 145.99 = 438.32 / 3 = 146.11
Support for the first (S1) 146.11 x 2 = 292.21 - 146.74 = 145.47
Support second (S2) 146.11 - ( 146.74 - 145.59 = 1.15 ) = 144.96
Third Support (S3) 145.59 - ( 146.74 - 146.11 = 0.63 x 2 = 1.27 )= 144.32

