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Today, a weekly short-term control zone (KZ)of 152.26-151.88 was reached, which led to an increase in demand. Holding the price above the indicated zone considers examining repeated purchases in case of impulse breakout on the lower timeframe.
Medium-term plan.
The basis for building a trading plan is the strong reaction to the weekly KZ 152.26-151.88. Without a consolidation below this zone, the upward movement of the medium-term movement remains impulsive, which implies the retesting of the January highs in the short term. A big impact on the movement weakens the Japanese yen while other major currencies strengthen relative to the US dollar. Purchases made from the weekly KZ limits must be retained until the monthly KZ January, where the January highs are located.
For the formation of an alternative model, it is necessary to maintain the growth today and return to the weekly KZ. This will allow considering the cancellation of purchases and sales when fixing below the level of 151.88.
Intraday plan.
The upward movement for this day looks impulsive, however, the fixation above theNKZ 1/2 154.03-153.84 has not yet occurred. While the GBP/JPY pair trades below this zone, the downward intraday movement remains impulsive. To break this trend, the closing of the US session later this day should be above the 154.03 level. This will allow you to consider purchases and imply that the upward movement has grown into an impulse.
Daytime CP is the daytime control zone. The zone formed by important data from the futures market, which change several times a year.
Weekly CP is the weekly control zone. The zone formed by important futures market marks, which change several times a year.
Monthly CP is the monthly control zone. The zone is a reflection of the average volatility over the past year.
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