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Market participants have been purchasing the financial instrument for three days in a row. If the price breaks the limits of the zone, we will be able to see a future main trend. It is highly possible that the pair will go on rising. It may also break the upper board of the range. Thus, traders will have a chance to keep the current buy positions open, when the pair reaches boarders of the range.
The USD/JPY pair may advance by 200 pips. That is why, it is recommended to open deals above the upper board of the range. The targeted level is a weekly control zone of 111.11-110.72.
Alternative scenario is also possible if today, the pair closes below the weekly control zone a of 108.44-109.35. After that, the quote is likely to change its trend. Thus, it will be possible to open sell positions with the target at the weekly control zone a of 107.51-107.32. However, the likelihood of this model is not very strong. That is why, it is recommended to initiate sell deals as early as next week.
Daily CZ is a daily control zone. This is a zone formed by important data from the futures market that is changed several times a year.
Weekly CZ is a weekly control zone. This is a zone formed by important marks of the futures market. The marks are changed several times a year.
Monthly CZ is a monthly control zone. It is a zone that reflects the average volatility over the past year.
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