【BTCJPY】20180921 Daily Pivot

For day trading BTCJPY, we check the pivot as a guide. Yesterday (September 20) the price rose without pulling back from the open, surpassed the 5MA, and closed in the upper half of the 720,000 yen range, similar to last weekend's level.

R2=746,504

R1=737,179

S1=715,125

S2=702,396

※ A pivot point is a technical indicator that forecasts the potential price movement for the day based on the previous day's price action. Centered on the Pivot Point (PP), resistance lines (R1, R2) and support lines (S1, S2) are drawn above and below, and they are used as trading guides.

【Calculation formula】

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

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

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

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

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