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USDJPY: medium-term sells of the pair.

USDJPY: medium-term sells of the pair. | 23 December 2020

23 December 2020, USD/JPY

• Long-term trend: goes short. The maximum accumulation of volumes of the current contract is located in the range, of quotations 103.332-103.430. Currently, the pair is trading within the specified range, indicating a temporary uncertainty.USDJPY: medium-term sells of the pair.

• Medium-term trend: goes short. The maximum accumulation of volumes of the current contract is located in the range, of quotations 103.990-104.055. 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 17.12.2020.

• Quotation of the lower boundary of the zone 1/4 – 103.523.

• Quotation of the lower boundary of the zone 1/2 –104.168.

• Intraday objectives: update the lows from 17.12.2020-102.887.

• Medium-term objectives: test the higher bound of GWCZ –101.827.USDJPY: medium-term sells of the pair.

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

• Sell: 103.523-104.168, Take Profit 1-102.887, Take Profit 2-101.827.

• WCZ (weekly control zone)

• GWCZ (golden weekly control zone)

• SWCZ (silver weekly control zone)

James Hoggarth
Analyst of FreshForex
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