http://prntscr.com/49ph01
analysis for today 8 / 5 / 2014
Below is the formula to determine the pivot point, support and resistance.
Information candle USD/JPY on the date 8 / 4 / 2014
OPEN 102.56
HIGH 102.73
LOW 102.41
CLOSED 102.57
The third resistance (R3) 102.73 - ( 102.57 - 102.41 = 0.16 x 2 = 0.32 )= 103.05
The second Resistance (R2) 102.57 + 102.73 - 102.41 = 102.89
First resistance (R1) 102.57 x 2 = 205.14 - 102.41 = 102.73
pivot points 102.73 + 102.41 + 102.57 = 307.71 / 3 = 102.57
Support for the first (S1) 102.57 x 2 = 205.14 - 102.73 = 102.41
Support second (S2) 102.57 - ( 102.73 - 102.41 = 0.32 ) = 102.25
Third Support (S3) 102.41 - ( 102.73 - 102.57 = 0.16 x 2 = 0.32 )= 102.09


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