USDJPY: medium-term buys of the pair. | 11 November 2020

11 November 2020, USD/JPY

• Long-term trend: temporary uncertainty. The maximum accumulation of volumes of the current contract is located in the range, of quotations 105.160-105.350. Currently, the pair is trading within the specified range, indicating a temporary uncertainty.USDJPY: medium-term sells of the pair.

• Medium-term trend: goes long. The maximum accumulation of volumes of medium-term trend is located in the range, of quotations 103.240-103.370. At the moment, the pair is trading higher, indicating the strength of buyers.

• The area of profitable prices for buy in terms of marginal cover is located between zones 1/4 and 1/2 constructed from the maximum 09.11.2020.

• Quotation of the higher boundary of the zone 1/4-104.761.

• Quotation of the higher boundary of the zone 1/2–103.891.

• Intraday objectives: update the highs from 09.11.2020-105.646.

• Medium-term objectives: test the lower bound of WCZ –106.688.USDJPY: medium-term sells of the pair.

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

• Buy: 103.891-104.761, Take Profit 1-105.646, Take Profit 2-106.688.

• WCZ (weekly control zone)

• GWCZ (golden weekly control zone)

• SWCZ (silver weekly control zone)

James Hoggarth
Analyst of FreshForex
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