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USDJPY: medium-term buys of the pair.

USDJPY: medium-term buys of the pair. | 07 August 2020

07 August 2020, USD/JPY

• Long-term trend: goes short. The maximum accumulation of volumes of the current contract is located in the range, of quotations 107.158-107.314. At the moment, the pair is trading lower, indicating the strength of sellers.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 105.673-105.800. At the moment, the pair is trading lower, indicating the weakness 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 03.08.2020.

• Quotation of the higher boundary of the zone 1/4-105.657.

• Quotation of the higher boundary of the zone 1/2–104.860.

• Intraday objectives: update the highs from 03.08.2020-106.466.

• Medium-term objectives: test the lower bound of WCZ –107.397.USDJPY: medium-term buys of the pair.

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

• Buy: 104.860-105.657, Take Profit 1-106.466, Take Profit 2-107.397.

• WCZ (weekly control zone)

• GWCZ (golden weekly control zone)

• SWCZ (silver weekly control zone)

James Hoggarth
Analyst of FreshForex
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