http://prntscr.com/40hl8c
analysis for today 7 / 8 / 2014
Below is the formula to determine the pivot point, support and resistance.
Information candle USD/JPY on the date 7 / 7 / 2014
OPEN 102.05
HIGH 102.19
LOW 101.77
CLOSED 101.85
The third resistance (R3) 102.19 - ( 101.94 - 101.77 = 0.17 x 2 = 0.33 )= 102.52
The second Resistance (R2) 101.94 + 102.19 - 101.77 = 102.36
First resistance (R1) 101.94 x 2 = 203.87 - 101.77 = 102.10
pivot points 102.19 + 101.77 + 101.85 = 305.81 / 3 = 101.94
Support for the first (S1) 101.94 x 2 = 203.87 - 102.19 = 101.68
Support second (S2) 101.94 - ( 102.19 - 101.77 = 0.42 ) = 101.52
Third Support (S3) 101.77 - ( 102.19 - 101.94 = 0.25 x 2 = 0.51 )= 101.26


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