The weekly pivots chart for the USD / JPY indicate that pivot points are placed according to the maximum and minimum quotes and the weekly closure of the pair. This chart will enable to place Stop Take Profits or Stop Losses. These Pivot Levels are some sort of a trading map that will allow you to know beforehand the possible increases and declines of the pair.
Therefore, it is recommended to open the short positions at the R1 level and long positions at the S1 level. If the weekly pivot is considered as target, it may be a feasible strategy for swing trading. The strategy can be used otherwise: it is possible to open long positions in S2 positions, and short R2 weekly with S1 or R1 as seen weekly targets or to the pivot point.
____WEEKLY_____
Weekly - R3 = 83.57
Weekly - R2 = 82.67
Weekly - R1 = 82.09
Weekly Pivot = 81.19
Weekly - S1 = 80.61
Weekly - S2 = 79.71
Weekly - S3 = 79.13
____MONTHLY______
Monthly - R3 = 88.08
Monthly - R2 = 85.13
Monthly - R1 = 84.49
Monthly Pivot = 82.54
Monthly - S1 = 80.90
Monthly - S2 = 78.95
Monthly - S3 = 77.31
