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USDJPY: medium-term sells of the pair.

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

17 June 2020, USD/JPY

• Long-term trend: goes short. The maximum accumulation of volumes of the current contract is located in the range, of quotations 107.279-107.398. 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 106.868-107.028. 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 11.06.2020.

• Quotation of the lower boundary of the zone 1/4-107.391.

• Quotation of the lower boundary of the zone 1/2–108.225.

• Intraday objectives: update the lows from 11.06.2020-106.509.

• Medium-term objectives: test the higher bound of WCZ –106.484.USDJPY: medium-term sells of the pair.

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

• Sell: 107.391-108.225, Take Profit 1-106.509, Take Profit 2-106.484.

• WCZ (weekly control zone)

• GWCZ (golden weekly control zone)

• SWCZ (silver weekly control zone)

James Hoggarth
Analyst of FreshForex
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