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USDJPY: medium-term buys of the pair.

USDJPY: medium-term buys of the pair. | 21 October 2020

21 October 2020, USD/JPY

• Long-term trend: temporary uncertainty. The maximum accumulation of volumes of the current contract is located in the range, of quotations 105.510-105.580. At the moment, the pair is trading lower, indicating the weakness of buyers.

• Medium-term trend: goes long. The maximum accumulation of volumes of medium-term trend is located in the range, of quotations 105.540-105.680. At the moment, the pair is trading lower, indicating the weakness 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 08.10.2020.

• Quotation of the higher boundary of the zone 1/4-105.208.

• Quotation of the higher boundary of the zone 1/2–104.331.

• Intraday objectives: update the highs from 08.10.2020-106.100.

• Medium-term objectives: test the lower bound of WCZ –107.524.

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

• Buy: 104.331-105.208, Take Profit 1-106.100, Take Profit 2-107.524.

• WCZ (weekly control zone)

• GWCZ (golden weekly control zone)

• SWCZ (silver weekly control zone)

James Hoggarth
Analyst of FreshForex
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