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USD/JPY Pivot Points Analysis - ranging near Central Yearly Pivot

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by , 01-31-2016 at 06:39 AM (960 Views)
      
   
USD/JPY W1

"Last week’s reversal materialized from the neckline of that pattern. This week’s follow through has resulted in a test of the 55 week average. The 2015 high was right at the 1990-1998 line (log scale), so a broader topping formation is still possible." The price is ranging around Central Yearly Pivot at 120.63 waiting for the following direction and targets:

  • R1 Pivot level at 125.41 for the bullish scenario, or
  • S1 Pivot level at 115.41 for the bearish scenario.

Name:  usdjpy-w1-alpari-limited.png
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Instrument
S1 Pivot
Yearly PP
R1 Pivot
USD/JPY 115.41 120.63 125.41


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