USDJPY: medium-term sells of the pair. | 03 Agosto 2020

03 Agosto 2020, USD/JPY

• Long-term trend: goes short. The maximum accumulation of volumes of the current contract is located in the range, of quotations 107.158-107.314. 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 107.158-107.273. 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 31.06.2020.

• Quotation of the lower boundary of the zone 1/4– 104. 969.

• Quotation of the lower boundary of the zone 1/2–105. 768.

• Intraday objectives: update the lows from 31.06.2020-104. 183.

• Medium-term objectives: test the higher bound of GWCZ –103. 290.

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

• Sell: 104. 969-105. 768, Take Profit 1-104. 183, Take Profit 2-103. 290.

• WCZ (weekly control zone)

• GWCZ (golden weekly control zone)

• SWCZ (silver weekly control zone)

James Hoggarth
Analyst of FreshForex
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