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USDJPY: medium-term sells of the pair.

USDJPY: medium-term sells of the pair. | 01 October 2020

01 October 2020, USD/JPY

• Long-term trend: goes short. The maximum accumulation of volumes of the current contract is located in the range, of quotations 105.360-105.470. At the moment, the pair is trading higher, indicating the weakness 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 21.09.2020.

• Quotation of the lower boundary of the zone 1/4 – 104.757.

• Quotation of the lower boundary of the zone 1/2 –105.552.

• Intraday objectives: update the lows from 21.09.2020-103.974.

• Medium-term objectives: test the higher bound of WCZ –103.737.

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

• Sell: 104.757-105.552, Take Profit 1-103.974, Take Profit 2-103.737.

• WCZ (weekly control zone)

• GWCZ (golden weekly control zone)

• SWCZ (silver weekly control zone)

James Hoggarth
Analyst of FreshForex
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