USDJPY: medium-term buys of the pair. | 04 June 2020

04 June 2020, USD/JPY

• Long-term trend: temporary uncertainty. The maximum accumulation of volumes of the current contract is located in the range, of quotations 107.594-107.704. At the moment, the pair is trading higher, indicating the strength of buyers.USDJPY: medium-term buys of the pair.

• Medium-term trend: goes long. The maximum accumulation of volumes of medium-term trend is located in the range, of quotations 107.612-107.751. At the moment, the pair is trading higher, indicating the strength of buyers.

• The area of profitable prices for buy in terms of marginal cover is located between zones 1/4 and 1/2 constructed from the maximum 04.06.2020.

• Quotation of the higher boundary of the zone 1/4-108.192.

• Quotation of the higher boundary of the zone 1/2–107.356.

• Intraday objectives: update the highs from 04.06.2020-109.041.

• Medium-term objectives: test the lower bound of WCZ –109.256.USDJPY: medium-term buys of the pair.

• Trading recommendations: buys from the range of favorable prices in the formation of a reversal pattern.

• Buy: 107.356-108.192, Take Profit 1-109.041, Take Profit 2-109.256.

• WCZ (weekly control zone)

• GWCZ (golden weekly control zone)

• SWCZ (silver weekly control zone)

James Hoggarth
Analyst of FreshForex
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