Control zones for USD/JPY on 08/24/20

The pair failed to break through the Weekly Control Zone 1/2 105.43-105.28, which indicates an upward priority. The purchases opened last week should be held, as the growth target remains the weekly control zone 107.75-107.42. This is a medium-term prospect, so additional purchases are possible during the growth of the pair.

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To confirm the rising priority, it is suggested to close today's trading above the maximum of last Thursday. This will allow you to transfer purchases to breakeven.

An alternative model will be developed in the event that today's trading closes below the Weekly Control Zone 1/2. This will cancel the upward medium-term model and allow you to search for sales until the end of August. The first goal of the decline will be the July low.

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Daily CZ - daily control zone. A zone formed by important data from the futures market that changes several times a year.

Weekly CZ - weekly control zone. A zone formed by important marks of the futures market that change several times a year.

Monthly CZ - monthly control zone. A zone that reflects the average volatility over the past year.

The material has been provided by InstaForex Company - www.instaforex.com