The Japanese yen has made some interesting moves, growing against the dollar and continuing a rally that began towards the end of last week; this pair has strengthened more because many investors only see as shelter against market uncertainty. However, observing the graph of weekly pivots, we noticed that the Japanese yen has an immediate support at 97.29 weekly S1 would expect the pair to continue progressively strengthened this area, in this area we recommend buying the yen's weaknesses with objectives until 98.95, and further up to the level of 100 yen. On the other hand, looking at the monthly chart the pair is finding support at the 97.88 monthly pivot point, and we believe that at this level the pair may bounce up to the area, the first monthly resistance. So you could choose one of the charts as the input signal.
Signals for July 29 - august 03, 2013
Buy if the pair rebounds around 97.30 and re-buy above 98.95, with take profits at 99.94 and 101.59 (W_R2), and stop loss is below 97.00.
Buy above Monthly pivot point of 0.9788 with take profit at 101.97 (M_R1) and stop loss below 0.97.
_____WEEKLY_____
Weekly - R3 = 102.58
Weekly - R2 = 101.59
Weekly - R1 = 99.94
Weekly Pivot = 98.95
Weekly - S1 = 97.30
Weekly - S2 = 96.31
Weekly - S3 = 94.66
____MONTHLY____
Monthly - R3 = 108.89
Monthly - R2 = 104.80
Monthly - R1 = 101.97
Monthly Pivot = 97.88
Monthly - S1 = 95.05
Monthly - S2 = 90.96
Monthly - S3 = 88.13
If you would like to get this indicator, feel free to contact me via skype: gerardofx or e-mail: gerardo.porras@analytics.instaforex.com
