empty
 
 
24.04.2019 07:55 AM
Control zones USDJPY 04/24/19

Throughout the current week, the pair is trading within the accumulation zone formed by the maximum of April and the minimum of yesterday's low. This allows us to consider purchases in case of a false breakdown of the lower boundary. Sales should already be open after a false breakout of the level of 112.15, which is the March maximum. On the other hand, holding a short position is the main trading plan. A transfer to break-even is also required, as the absorption of the last decline and the close of trading above the indicated resistance will indicate a continued growth.

This image is no longer relevant

Meanwhile, work in the downward direction has a greater potential, since a reduction is possible by 100 points or more, while growth is still limited by the level of 112.15. Until the closing of the American session above this mark occurs, it is still premature to talk about continued growth.

An alternative model will be developed if one of the closest American sessions closes above the level of 112.15. This will open the way for continued growth. The probability of implementing this model is 50%, which makes the need for its inclusion in the trading plan mandatory. On the other hand, the weakening of the Japanese yen has stopped, despite the fact that all other instruments are getting cheaper relative to the US dollar. This indicates the regulation of the exchange rate by the National Bank of Japan.

This image is no longer relevant

Daily CZ - daily control zone. The area formed by important data from the future market, which change several times a year.

Weekly CZ - weekly control zone. The zone formed by important marks of the future market, which change several times a year.

Monthly CZ - monthly control zone. The zone, which is a reflection of the average volatility over the past year.

Samanta Kruder,
Analytical expert of InstaForex
© 2007-2024
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $8000 more!
    In March we raffle $8000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback