USDJPY Pivot Points Analysis - ranging below second pivot resistance level

USDJPY Pivot Points Analysis - ranging below second pivot resistance level

23 November 2015, 21:11
Sergey Golubev
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W1 price is located to be above yearly Central Pivot at 114.36 and below R1 Pivot at 127.96 in the primary bullish area of the chart:

  • The price is on bullish ranging between Central Pivot level at 114.36 and R1 level at 127.96;
  • The price is breaking 123.59 resistance for 125.85 as the next bullish target;
  • If weekly price will break R1 Pivot at 127.96 so the primary bullish market condition will be continuing up to R2 Pivot value as the new top in this situation, otherwise the price will be ranging within yearly Central Pivot and yearly R1.


InstrumentS1 Pivot
Yearly PP
R1 Pivot
USD/JPY 106.88 114.36
127.96


Trend:

  • W1 - ranging bullish
  • MN1 - ranging bullish
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