USD/JPY - Weekly and Monthly Pivot Points for June 11 - 15, 2012 2012-06-11
The weekly and monthly pivot chart for the USD/JPY pair indicates that the pivot points are placed according to the last week highs and lows.
The pivot point should be the first place to look for in order to open a trade.The more times a currency pair touches the pivot level and then returns, the stronger the level is.
Recommendations to work at these levels:
If the price is in the PP (Pivot Point), expect a move to R1 or S1
If the price is R1, wait for a move to R2 or back towards PP
If the price is in S1, wait for a move to S2 or back towards PP
If the price is R2, wait for a move back to R3 or R1
If the price is in S2, wait for a move back to S3 or S1.
No news important to influence the market, probably the price will move to the ivot S1 or R1
If there are news important to influence the market, the price may be sent directly to R2 or S2 or S3 and even reach R3.
If you would like to get this indicator, feel free to adress me via e-mail: gerardo.porras@analytics.instaforex.com
