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USDJPY: medium-term buys of the pair.

USDJPY: medium-term buys of the pair. | 07 October 2020

07 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 105.600-105.700. At the moment, the pair is trading higher, indicating the weakness of sellers.USDJPY: medium-term buys of the pair.

• Medium-term trend: goes long. The maximum accumulation of volumes of medium-term trend is located in the range, of quotations 105.520-105.640. At the moment, the pair is trading higher, indicating the strength of buyers.

• The area of profitable prices for buy in terms of marginal cover is located between zones 1/4 and 1/2 constructed from the maximum 05.10.2020.

• Quotation of the higher boundary of the zone 1/4-105.013.

• Quotation of the higher boundary of the zone 1/2–104.226.

• Intraday objectives: update the highs from 05.10.2020-105.812.

• Medium-term objectives: test the lower bound of WCZ –107.171.USDJPY: medium-term buys of the pair.

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

• Buy: 104.226-105.013, Take Profit 1-105.812, Take Profit 2-107.171.

• WCZ (weekly control zone)

• GWCZ (golden weekly control zone)

• SWCZ (silver weekly control zone)

James Hoggarth
Analyst of FreshForex
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