http://prntscr.com/3pgkaf
analysis for today 6 / 4 / 2014
Below is the formula to determine the pivot point, support and resistance.
Information candle USD/JPY on the date 6 / 3 / 2014
OPEN 102.38
HIGH 102.54
LOW 102.26
CLOSED 102.50
The third resistance (R3) 102.54 - ( 102.43 - 102.26 = 0.17 x 2 = 0.35 )= 102.89
The second Resistance (R2) 102.43 + 102.54 - 102.26 = 102.71
First resistance (R1) 102.43 x 2 = 204.87 - 102.26 = 102.61
pivot points 102.54 + 102.26 + 102.50 = 307.30 / 3 = 102.43
Support for the first (S1) 102.43 x 2 = 204.87 - 102.54 = 102.33
Support second (S2) 102.43 - ( 102.54 - 102.26 = 0.28 ) = 102.15
Third Support (S3) 102.26 - ( 102.54 - 102.43 = 0.11 x 2 = 0.21 )= 102.05


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