USD/JPY: weekly and monthly pivot point and signal for July 01 – 06, 2013
July 1, 2013 3:45 pm
The USD/JPY pair remains bearish on all fronts and in a timely to the U.S. dollar is heading to the area of 100 yen, this level coincides with the first weekly resistance of 100.06, a psychological level. However, the yen had a bearish momentum due to Bank of Japan’s Tankan survey data, showing that the main local variables begin to yield positive results this month. This improvement is a direct result of the government’s monetary policy held by Shinzo Abe, who managed to devalue the yen considerably during the first half of the year. Therefore, if the pair find resistance around 100 yen, it can be a time to sell, with objectives to the weekly pivot point 98.51 and if this level is broken, it is expected to find support at 97.59 Therefore, we see the following signal valid for this week.
Signals for July 01 – 06, 2013
Sell if find strong resistance around 100.06 (W_R1) with take profit at 98.51 (W_PV) and stop loss above 100.50
The USD/JPY pair remains bearish on all fronts and in a timely to the U.S. dollar is heading to the area of 100 yen, this level coincides with the first weekly resistance of 100.06, a psychological level. However, the yen had a bearish momentum due to Bank of Japan’s Tankan survey data, showing that the main local variables begin to yield positive results this month. This improvement is a direct result of the government’s monetary policy held by Shinzo Abe, who managed to devalue the yen considerably during the first half of the year. Therefore, if the pair find resistance around 100 yen, it can be a time to sell, with objectives to the weekly pivot point 98.51 and if this level is broken, it is expected to find support at 97.59 Therefore, we see the following signal valid for this week.
Signals for July 01 – 06, 2013
Sell if find strong resistance around 100.06 (W_R1) with take profit at 98.51 (W_PV) and stop loss above 100.50
____WEEKLY_____
Weekly – R3 = 102.53
Weekly – R2 = 100.98
Weekly – R1 = 100.06
Weekly Pivot = 98.51
Weekly – S1 = 97.59
Weekly – S2 = 96.04
Weekly – S3 = 95.12
____MONTHLY____
Monthly – R3 = 108.89
Monthly – R2 = 104.80
Monthly – R1 = 101.97
Monthly Pivot = 97.88
Monthly – S1 = 95.05
Monthly – S2 = 90.96
Monthly – S3 = 88.13
If you would like to get this indicator, feel free to contact me via skype: gerardofx or e-mail: [email protected]
The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: