For the EUR/JPY pair a pullback to the level of 1.0691, weekly pivot is expected. This level will be the resistance for the pair. If it is broken the rate continues rising; we expect a continuation of the bearish movement. Therefore, the key level you must observe is 1.0691, above this level the pair may be very bullish. Thus, we have traced the likely movements according to the table pivots.
106.91 and 105.03 are weekly and monthly pivot points for this week for EUR/JPY.
Signals for December 10 - 15, 2012
Sell if pullback is at 106.91 (W_R1) with take profit at 105.86, stop loss is above 108.73 (W_R2).
____WEEKLY_____
Weekly - R3 = 109.50
Weekly - R2 = 108.73
Weekly - R1 = 107.68
Weekly Pivot = 106.91
Weekly - S1 = 105.86
Weekly - S2 = 105.09
Weekly - S3 = 104.04
If you would like to get this indicator, feel free to contact me via e-mail: gerardo.porras@analytics.instaforex.com
____MONTHLY____
Monthly - R3 = 117.07
Monthly - R2 = 112.37
Monthly - R1 = 109.73
Monthly Pivot = 105.03
Monthly - S1 = 102.39
Monthly - S2 = 97.69
Monthly - S3 = 95.05
