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USDJPY: medium-term sells of the pair.

USDJPY: medium-term sells of the pair. | 06 September 2021

06 September 2021, USD/JPY

• Long-term trend: temporary uncertainty. The maximum accumulation of volumes of the current contract is located in the range, of quotations 110.000-110.077. 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 110.357-110.446. 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 16.08.2021.

• Quotation of the lower boundary of the zone 1/4 – 109.586.

• Quotation of the lower boundary of the zone 1/2 –110.081.

• Intraday objectives: update the lows from 16.08.2021-109.096.

• Medium-term objectives: test the higher bound of WCZ –108.805.

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

• Sell: 109.586-110.081, Take Profit 1-109.096, Take Profit 2-108.805.

• WCZ (weekly control zone)

• GWCZ (golden weekly control zone)

• SWCZ (silver weekly control zone)

James Hoggarth
Analyst of FreshForex
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