【BTCJPY】20190207 Daily Pivot

As a guideline for day trading BTCJPY, we verify the pivot. Yesterday (February 6) there was strong selling pressure, forming a bearish candle. The market closed in the upper 360,000s, having fallen below the 5MA.

R2=382,610

R1=376,188

S1=364,927

S2=360,088

※ A pivot is a technical indicator used to forecast the price movement range for the current day based on the previous day's price action. Around the pivot point (PP), resistance lines (R1, R2) and support lines (S1, S2) are drawn, and they are used as guides for trading decisions.

【Calculation formulas】

Pivot Point (PP) = (Previous day close + previous day high + previous day low) / 3

Resistance Line 1 (R1) = PP + (PP - previous day low)

Support Line 1 (S1) = PP - (previous day high - PP)

Resistance Line 2 (R2) = PP + (previous day high - previous day low)

Support Line 2 (S2) = PP - (previous day high - previous day low)