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Control zones for USDJPY on 03/27/2020

Today's fall target is the weekly CZ of 107.86-107.49. Reaching this zone and responding to it will determine the next priority. If the test leads to the formation of the "absorption" pattern, then next week the priority of trading will be growth. This model remains a priority for now, as the last weakening of the yen was quite strong.

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The downward direction of a trade can go into the impulse phase of the medium-term order. Today, there are large purchases of the yen in the Asian session, which indicates interest in its strengthening.

An alternative model for strengthening the yen will develop if the current week's trading closes below the weekly CZ of 107.86-107.49. This will open the way for further declines. The target of the fall will be the level of 104.00.

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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. The zone formed by important marks of the futures market, which 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