In terms of the EUR/JPY pair we expect a correction will be observed before its upward movement continues towards the key level of 110 yen per euro. Therefore, we have traced the likely movements according to the table pivots. The Weekly Pivot is 106.68. It has to keep the pair in the upward movement.
106.68 and 105.03 are weekly and monthly pivot points for this week for EUR/JPY.
Signals for December 03 - 08, 2012
Sell if pullback is at 108.08 (W_R1) with take profit at 104.31, stop loss is above 109.05 (W_R2).
____WEEKLY_____
Weekly - R3 = 110.45
Weekly - R2 = 109.05
Weekly - R1 = 108.08
Weekly Pivot = 106.68
Weekly - S1 = 105.71
Weekly - S2 = 104.31
Weekly - S3 = 103.34
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