For this week the pivot points (weekly and monthly) for USD/JPY are: 77.85 weekly; 78.09 monthly.
The Japanese yen is located above the weekly pivot and bellow the Moving Average of 200 periods (blue). Therefore, taking into account the pivot points, we can conclude the following.
The level of 77.85 (pivot) is the weekly pivot, a higher level increases the likelihood of an upward trend. Therefore, recommend buying above 77.85, until the second week resistance.
Signal for 01 - 05 October, 2012
Buy long at 77.85, take profit at 78.61 and 79.03, stop loss is bellow W_S1.
____WEEKLY_____
Weekly - R3 = 79.03
Weekly - R2 = 78.61
Weekly - R1 = 78.27
Weekly Pivot = 77.85
Weekly - S1 = 77.51
Weekly - S2 = 77.09
Weekly - S3 = 76.75
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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
