Last week's downward momentum was halted at 108.44. So far, this mark remains the level of demand. While trading in the Asian session is above this level, it suggests the continuation of the downward movement prematurely. The best selling prices are at the upper level of the flat near the level of 109.00.
Working within a flat involves looking for patterns on boundaries. Today, the pair is trading at the lower border, so purchases to the upper range are profitable.
The most likely is the continuation of the flat, however, it is necessary to consider the possibility of working towards the strengthening of the Japanese yen. This will happen if the closing of the current day trading occurs below the level of 108.44. This will indicate the continuation of the medium-term bearish momentum and allow repeated sales of the instrument.
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 the 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.