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Trading analysis for 21st August, 2014. In Daily chart USDJPY shows bullish trend. At present USDJPY above the pivot point and going towards the 1st resistance level. If it breaks the 1st resistance level then next strong resistance level is 105.665.
Pivot: 103.496
Resistance levels
R1 104.104
R2 104.450
R3 105.058
R4 105.665
Support levels
S1 103.150
S2 102.542
S3 102.196
S4 101.849
Attachment 11154
http://prntscr.com/4evn2q
analysis for today 8 / 21 / 2014
Below is the formula to determine the pivot point, support and resistance.
Information candle USD/JPY on the date 8 / 20 / 2014
OPEN 102.92
HIGH 103.85
LOW 102.90
CLOSED 103.76
The third resistance (R3) 103.85 - ( 103.50 - 102.90 = 0.60 x 2 = 1.21 )= 105.06
The second Resistance (R2) 103.50 + 103.85 - 102.90 = 104.45
First resistance (R1) 103.50 x 2 = 207.01 - 102.90 = 104.11
pivot points 103.85 + 102.90 + 103.76 = 310.51 / 3 = 103.50
Support for the first (S1) 103.50 x 2 = 207.01 - 103.85 = 103.16
Support second (S2) 103.50 - ( 103.85 - 102.90 = 0.95 ) = 102.55
Third Support (S3) 102.90 - ( 103.85 - 103.50 = 0.35 x 2 = 0.69 )= 102.21
http://prntscr.com/4ev5bt
analysis for today 8 / 21 / 2014
USD/JPY
Resistance : R1 104.43 R2 104.68 R3 104.88 R4 105.18
Support : S1 103.20 S2 102.95 S3 102.75 S4 102.45
Open : 103.76
High : 103.95
Low : 103.68
Range : .27 Pips
Running Price : 103.95
Strategy : BUY at the level 103.95 stop loss at the level 103.20 target take profit at the level 104.88 or at the level 105.18
http://prntscr.com/4eygze
analysis for today 8 / 21 / 2014
USD/JPY (Daily Trade)
I think the movement is still in a bullish trend
retracement (38.2%) 103.49
Retracement (50%) 103.38
retracement (61,8%) 103.26
Extensions (61.8%) 104.44
Extensions (100.0%) 104.80
Extensions (138.2%) 105.16
Extensions (161.8%) 105.39
calculation based on a Fibonacci retracement then today I choose buy
pair- usd/jpy
chart analysis time frame- m15
http://i60.tinypic.com/2cgi7q.jpg
the up movement of the price now may make a correction as its moving down side from the resistance at 103.95 level. this is also having resistance from the moving average so down movement can expected. short with take profit at 103.30 level and stop loss at 104.20
good luck
The price now is in a resistance area which mean that we shouldn't look for any long opportunity.
I think that we should take short positions because the price will fall down in any moment.
http://i.imgur.com/EI6HCQD.png
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Trading analysis for 22nd August, 2014. In Daily chart USDJPY at this time little bit below from the pivot point. The pair strongly bullish trend, but at this time USDJPY not break the 1st resistance level. If its breaks the 1st resistance level then it goes further upward to the strong resistance level that is 104.562.
Pivot: 103.799
Resistance levels
R1 104.002
R2 104.157
R3 104.360
R4 104.562
Support levels
S1 103.644
S2 103.441
S3 103.286
S4 103.130
Attachment 11162
http://prntscr.com/4f9gss
analysis for today 8 / 22 / 2014
Below is the formula to determine the pivot point, support and resistance.
Information candle USD/JPY on the date 8 / 21 / 2014
OPEN 102.83
HIGH 102.96
LOW 103.68
CLOSED 103.73
The third resistance (R3) 102.96 - ( 103.46 - 103.68 = -0.22 x 2 = -0.45 )= 102.51
The second Resistance (R2) 103.46 + 102.96 - 103.68 = 102.74
First resistance (R1) 103.46 x 2 = 206.91 - 103.68 = 103.23
pivot points 102.96 + 103.68 + 103.73 = 310.37 / 3 = 103.46
Support for the first (S1) 103.46 x 2 = 206.91 - 102.96 = 103.95
Support second (S2) 103.46 - ( 102.96 - 103.68 = -0.72 ) = 104.18
Third Support (S3) 103.68 - ( 102.96 - 103.46 = -0.50 x 2 = -0.99 )= 104.67
http://prntscr.com/4f93sp
analysis for today 8 / 22 / 2014
USD/JPY
Resistance : R1 104.43 R2 104.68 R3 104.88 R4 105.18
Support : S1 103.21 S2 102.96 S3 102.76 S4 102.46
Open : 103.85
High : 103.96
Low : 103.68
Range : .28 Pips
Running Price : 103.77
Strategy : BUY at the level 103.77 stop loss at the level 103.21 target take profit at the level 104.88 or at the level 105.18