79.02 and 78.09 are weekly and monthly pivot points for USD/JPY for this week. The Japanese yen is located above the weekly pivot and above the Moving Average of 200 periods (blue). Therefore, taking into account the pivot points, we can conclude the following.Now the weekly pivot level 79.02 is the nearest support for the yen. Above the expected weekly pivot upward movement to the level of resistance of the third week 80.87 is observed.On the other hand, if the pair declines to the weekly pivot, we will take it as an opportunity to buy at such a low price, with objectives to the last weekly resistance of 80.16.

Signals for 22 - 27 October, 2012

      
Buy if it rebounds around 79.02 with take profit at 80.16 and 80.87 stop loss bellow (weekly pivot).

____WEEKLY_____
Weekly - R3 = 80.87
Weekly - R2 = 80.16
Weekly - R1 = 79.73
Weekly Pivot = 79.02
Weekly - S1 = 78.59
Weekly - S2 = 77.88
Weekly - S3 = 77.45

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____MONTHLY____
Monthly - R3 = 81.14
Monthly - R2 = 80.18
Monthly - R1 = 79.05
Monthly Pivot = 78.09
Monthly - S1 = 76.96
Monthly - S2 = 76.00
Monthly - S3 = 74.87