USD/JPY: Weekly and monthly pivot point and signal – for May 20 – 25, 2013
May 20, 2013 4:00 pm
The USD/JPY pair remains stable at 102.50 area. But it may drop in the short term, seeking the maximum 103.30. Moreover, it coincided with the close of the week. Now this pair is recovering from the fall to the levels it was traded four years ago. According to the technical analysis of the weekly pivot lines, this pair is trading below the weekly pivot point of 102.59. If the pair closes the day below this level, it is expected to fall to support 101.88 and further down to the second support S2 of 100.55 weekly. On the other hand, a close above weekly pivot pair is expected to find a roof on the first resistance weekly 103.92. Therefore, we recommend the following signal will be valid for this week.
Signals for May 20 – 25, 2013
Buy if it closes above 102.70 (W_PPV) with take profit at 103.92 (W_R1), stop loss is below 102.00.
Sell if it closes the day below 102.60 (W_PPV) with partial cover at 101.88 (W_S1) and full cover 100.55 (W_S2), stop loss is above 103.30.
The USD/JPY pair remains stable at 102.50 area. But it may drop in the short term, seeking the maximum 103.30. Moreover, it coincided with the close of the week. Now this pair is recovering from the fall to the levels it was traded four years ago. According to the technical analysis of the weekly pivot lines, this pair is trading below the weekly pivot point of 102.59. If the pair closes the day below this level, it is expected to fall to support 101.88 and further down to the second support S2 of 100.55 weekly. On the other hand, a close above weekly pivot pair is expected to find a roof on the first resistance weekly 103.92. Therefore, we recommend the following signal will be valid for this week.
Signals for May 20 – 25, 2013
Buy if it closes above 102.70 (W_PPV) with take profit at 103.92 (W_R1), stop loss is below 102.00.
Sell if it closes the day below 102.60 (W_PPV) with partial cover at 101.88 (W_S1) and full cover 100.55 (W_S2), stop loss is above 103.30.
____WEEKLY_____
Weekly – R3 = 105.96
Weekly – R2 = 104.63
Weekly – R1 = 103.92
Weekly Pivot = 102.59
Weekly – S1 = 101.88
Weekly – S2 = 100.55
Weekly – S3 = 99.84
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____MONTHLY____
Monthly – R3 = 108.09
Monthly – R2 = 104.01
Monthly – R1 = 100.72
Monthly Pivot = 96.64
Monthly – S1 = 93.35
Monthly – S2 = 89.27
Monthly – S3 = 85.98
The material has been provided by InstaForex Company – www.instaforex.com
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