http://prntscr.com/4jskmq
analysis for today 9 / 5 / 2014
Below is the formula to determine the pivot point, support and resistance.
Information candle USD/JPY on the date 9 / 4 / 2014
OPEN 105.25
HIGH 105.68
LOW 105.23
CLOSED 105.29
The third resistance (R3) 105.68 - ( 105.40 - 105.23 = 0.17 x 2 = 0.34 )= 106.02
The second Resistance (R2) 105.40 + 105.68 - 105.23 = 105.85
First resistance (R1) 105.40 x 2 = 210.80 - 105.23 = 105.57
pivot points 105.68 + 105.23 + 105.29 = 316.20 / 3 = 105.40
Support for the first (S1) 105.40 x 2 = 210.80 - 105.68 = 105.12
Support second (S2) 105.40 - ( 105.68 - 105.23 = 0.45 ) = 104.95
Third Support (S3) 105.23 - ( 105.68 - 105.40 = 0.28 x 2 = 0.56 )= 104.67


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