http://prntscr.com/3vyq43
analysis for today 6 / 24 / 2014
Below is the formula to determine the pivot point, support and resistance.
Information candle USD/JPY on the date 6 / 23 / 2014
OPEN 102.08
HIGH 102.13
LOW 101.81
CLOSED 101.92
The third resistance (R3) 102.13 - ( 101.95 - 101.81 = 0.14 x 2 = 0.29 )= 102.42
The second Resistance (R2) 101.95 + 102.13 - 101.81 = 102.27
First resistance (R1) 101.95 x 2 = 203.91 - 101.81 = 102.10
pivot points 102.13 + 101.81 + 101.92 = 305.86 / 3 = 101.95
Support for the first (S1) 101.95 x 2 = 203.91 - 102.13 = 101.78
Support second (S2) 101.95 - ( 102.13 - 101.81 = 0.32 ) = 101.63
Third Support (S3) 101.81 - ( 102.13 - 101.95 = 0.18 x 2 = 0.35 )= 101.46


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