Today's movement of the pair in the Asian session indicates that there is interest in buying the Japanese yen. In the case of the formation of a downward correctional model, the main goal can be considered a weekly control zone 108.14-107.84. Now, declining to this zone will allow you to get favorable purchase prices in the future and fix the sales of the instrument.
The upward movement remains a medium-term impulse, so the probability of updating the monthly maximum is above 75%.
An alternative model will be developed if growth resumes from current levels. This will not allow you to get favorable prices for the purchase. The nearest goal of growth will be the February maximum, located at the level of 112.23.
Daily CZ - daily control zone. The zone formed by important data from the futures market that changes several times a year.
Weekly CZ - weekly control zone. The zone formed by the important marks of the futures market, which change several times a year.
Monthly CZ - monthly control zone. The zone that reflects the average volatility over the past year.
