http://prntscr.com/4gkgq8
analysis for today 8 / 26 / 2014
Below is the formula to determine the pivot point, support and resistance.
Information candle USD/JPY on the date 8 / 25 / 2014
OPEN 104.27
HIGH 104.27
LOW 103.87
CLOSED 104.06
The third resistance (R3) 104.27 - ( 104.07 - 103.87 = 0.20 x 2 = 0.39 )= 104.66
The second Resistance (R2) 104.07 + 104.27 - 103.87 = 104.47
First resistance (R1) 104.07 x 2 = 208.13 - 103.87 = 104.26
pivot points 104.27 + 103.87 + 104.06 = 312.20 / 3 = 104.07
Support for the first (S1) 104.07 x 2 = 208.13 - 104.27 = 103.86
Support second (S2) 104.07 - ( 104.27 - 103.87 = 0.40 ) = 103.67
Third Support (S3) 103.87 - ( 104.27 - 104.07 = 0.20 x 2 = 0.41 )= 103.46


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