http://prntscr.com/4anq1g
analysis for today 8 / 8 / 2014
Below is the formula to determine the pivot point, support and resistance.
Information candle USD/JPY on the date 8 / 7 / 2014
OPEN 102.10
HIGH 102.46
LOW 102.00
CLOSED 102.09
The third resistance (R3) 102.46 - ( 102.18 - 102.00 = 0.18 x 2 = 0.37 )= 102.83
The second Resistance (R2) 102.18 + 102.46 - 102.00 = 102.64
First resistance (R1) 102.18 x 2 = 204.37 - 102.00 = 102.37
pivot points 102.46 + 102.00 + 102.09 = 306.55 / 3 = 102.18
Support for the first (S1) 102.18 x 2 = 204.37 - 102.46 = 101.91
Support second (S2) 102.18 - ( 102.46 - 102.00 = 0.46 ) = 101.72
Third Support (S3) 102.00 - ( 102.46 - 102.18 = 0.28 x 2 = 0.55 )= 101.45


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