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: 79.40 weekly; 79.35 monthly
The Japanese yen is located below the pivot weekly and above the Moving Average of 200 periods (blue).
Therefore, taking into account the pivots points, we can conclude the following:
1) If the price in September is broken by the pivot point 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 as well as can be removed which is useful for trading strategy. For example, a sell limit order can be placed on a level support for opening if this support is broken and the stop loss can be placed for this order in one of the resistances.

Signal For 16 - 20 July
1) Sell short 79.70 with Take Profit at 78.85 and with Stop Loss at 80.00
2) Sell short bellow 200EMA (blue), Take Profit at 78.52

____WEEKLY_____
Weekly - R3 = 80.61
Weekly - R2 = 80.28
Weekly - R1 = 79.73
Weekly Pivot = 79.40
Weekly - S1 = 78.85
Weekly - S2 = 78.52
Weekly - S3 = 77.97

____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

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