EUR/JPY – Weekly and Monthly Pivot Points and Signals, For December 17 – 22, 2012
The EUR/JPY came to the level of March 2012 and is trading at 111.17 9, a level that it had months ago due to the expected victory of the Liberal Democratic Party of Shinzo Abe (PLD). Abe has called for the central bank to double its inflation goal to 2% and undertake unlimited easing to revive economic growth. The EUR/JPY pair left a gap of over 100 pips; it is likely to be covered in the course of this week. Thus, we have traced the likely movements according to the table pivots.
108.61 and 105.03 are weekly and monthly pivot points for this week for EUR/JPY.
Signals for December 17 – 22, 2012
Sell if pullback is at 111.24 (W_PPV) with take profit at 108.61, stop loss is above 112.58 (W_R1).
Buy if it rebounds around at 108.61 (W_PPV) with take profit at 111.00, stop loss is at 107,27 (W_S1).
Weekly – R3 = 115.21
Weekly – R2 = 112.58
Weekly – R1 = 111.24
Weekly Pivot = 108.61
Weekly – S1 = 107.27
Weekly – S2 = 104.64
Weekly – S3 = 103.30
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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
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