The pivot points of the USD / JPY for this week are defined according to the following table shown below. The weekly chart indicates prospect points or areas of support or resitance levels. This chart will enable to define the best places for Take profits or Stop loss orders. These pivot levels serve as a trading map, so you will know beforehand about the possible increases and declines of the pair.
Therefore it is recommended to open the short positions at the level R1 and long positions at the level S1. If the weekly pivot is considered as a target, it may turn to be a viable strategy for swing trading. Otherwise it will be possible to use this strategy by opening long positions in S2 positions, and short R2 weekly with S1 or R1 seen as weekly targets or to the pivot point.
____WEEKLY_____
Weekly - R3 = 86.62
Weekly - R2 = 85.39
Weekly - R1 = 84.41
Weekly Pivot = 83.18
Weekly - S1 = 82.20
Weekly - S2 = 80.97
Weekly - S3 = 79.99
____MONTHLY______
Monthly - R3 = 88.82
Monthly - R2 = 85.23
Monthly - R1 = 83.19
Monthly Pivot = 79.60
Monthly - S1 = 77.56
Monthly - S2 = 0.972
Monthly - S3 = 0.9605
