【BTCJPY】20190121 Daily Pivot for Bitcoin/Japanese Yen

As a guideline for day trading BTCJPY, we confirm the pivot. Yesterday (January 20) there was strong selling pressure, forming a bearish candle. The market environment fell below the key level of 400,000 yen, broke below the 5MA, and closed in the upper 380,000s.

R2=416,201

R1=402,404

S1=379,405

S2=370,203

* Pivot points are technical indicators used to forecast the day's price movements from the previous day's price action. Centered on the Pivot Point (PP), draw resistance lines (R1, R2) above and below, and support lines (S1, S2) below, using them as trading references.

【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)