USDJPY: medium-term sells of the pair. | 21 September 2020

21 September 2020, USD/JPY

• Long-term trend: goes short. The maximum accumulation of volumes of the current contract is located in the range, of quotations 106.132-106.202. At the moment, the pair is trading lower, indicating the strength of sellers.

• Medium-term trend: goes short. The maximum accumulation of volumes of the current contract is located in the range, of quotations 106.111-106.221. At the moment, the pair is trading lower, indicating the strength of sellers.

• The area of profitable prices for sell in terms of marginal cover is located between zones 1/4 and 1/2 constructed from the minimum 18.09.2020.

• Quotation of the lower boundary of the zone 1/4 – 105.060.

• Quotation of the lower boundary of the zone 1/2 –105.859.

• Intraday objectives: update the lows from 18.09.2020-104.273.

• Medium-term objectives: test the higher bound of WCZ –103.766.

• Trading recommendations: sells from the range of favorable prices in the formation of a reversal pattern.

• Sell: 105.060-105.859, Take Profit 1-104.273, Take Profit 2-103.766.

• WCZ (weekly control zone)

• GWCZ (golden weekly control zone)

• SWCZ (silver weekly control zone)

James Hoggarth
Analyst of FreshForex
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