USDJPY: medium-term sells of the pair. | 17 March 2020

17 March 2020, USD/JPY

• Long-term trend: temporary uncertainty. The maximum accumulation of volumes of the current contract is located in the range, of quotations 106.635-106.939. 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 105.697-105.846. At the moment, the pair is trading higher, indicating the weakness 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 16.03.2020.

• Quotation of the lower boundary of the zone 1/4-105.987.

• Quotation of the lower boundary of the zone 1/2–106.736.

• Intraday objectives: update the lows from 16.03.2020-105.248.

• Medium-term objectives: test the higher bound of WCZ –104.003.USDJPY: medium-term sells of the pair.

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

• Sell: 105.987-106.736, Take Profit 1-105.248, Take Profit 2-104.003.

• WCZ (weekly control zone)

• GWCZ (golden weekly control zone)

• SWCZ (silver weekly control zone)

James Hoggarth
Analyst of FreshForex
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