The pivot point is used as support and resistance at the same time; it is the first level that we observe. For this week the pivot points (weekly and monthly) for USD/JPY are: 78.72 weekly; 79.35 monthly.
The Japanese yen is located below the pivot weekly and bellow the Moving Average of 200 periods (blue).
Therefore, taking into account the pivots points, we can conclude the following:
1) If the price set by the pivot point is broken in an upward motion, the market is bullish and, conversely, if the pivot point is broken in a downward motion, the market is bearish.
2) They can provide points of market entry and exit that can be quite useful for trading strategy. For example, a limit sell order can be placed on a level support for open if this support is broken and can put the stop loss for this order in one of the resistances.
Signal For 23 - 27 July
1) Buy long 78.09 with Take Profit at 79.85 and with Stop Loss at 77.80.

____WEEKLY_____
Weekly - R3 = 79.88
Weekly - R2 = 79.57
Weekly - R1 = 79.03
Weekly Pivot = 78.72
Weekly - S1 = 78.18
Weekly - S2 = 77.87
Weekly - S3 = 77.33

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 ____MONTHLY____
Monthly - R3 = 84.01
Monthly - R2 = 82.31
Monthly - R1 = 81.05
Monthly Pivot = 79.35
Monthly - S1 = 78.09
Monthly - S2 = 76.39
Monthly - S3 = 75.13