http://prntscr.com/4hvrla
analysis for today 9 / 1 / 2014
Below is the formula to determine the pivot point, support and resistance.
Information candle EUR/JPYon the date 8 / 29 / 2014
OPEN 136.72
HIGH 137.18
LOW 136.57
CLOSED 136.68
The third resistance (R3) 137.18 - ( 136.81 - 136.57 = 0.24 x 2 = 0.48 )= 137.66
The second Resistance (R2) 136.81 + 137.18 - 136.57 = 137.42
First resistance (R1) 136.81 x 2 = 273.62 - 136.57 = 137.05
pivot points 137.18 + 136.57 + 136.68 = 410.43 / 3 = 136.81
Support for the first (S1) 136.81 x 2 = 273.62 - 137.18 = 136.44
Support second (S2) 136.81 - ( 137.18 - 136.57 = 0.61 ) = 136.20
Third Support (S3) 136.57 - ( 137.18 - 136.81 = 0.37 x 2 = 0.74 )= 135.83


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