USDJPY: medium-term sells of the pair. | 10 December 2020

10 December 2020, USD/JPY

• Long-term trend: temporary uncertainty. The maximum accumulation of volumes of the current contract is located in the range, of quotations 104.218-104.310. At the moment, the pair is trading higher, indicating the strength of buyers.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 104.487-104.600. 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 18.11.2020.

• Quotation of the lower boundary of the zone 1/4 – 104.271.

• Quotation of the lower boundary of the zone 1/2 –104.927.

• Intraday objectives: update the lows from 18.11.2020-103.623.

• Medium-term objectives: test the higher bound of WCZ –103.035.USDJPY: medium-term sells of the pair.

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

• Sell: 104.271-104.927, Take Profit 1-103.623, Take Profit 2-103.035.

• WCZ (weekly control zone)

• GWCZ (golden weekly control zone)

• SWCZ (silver weekly control zone)

James Hoggarth
Analyst of FreshForex
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