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USDJPY: medium-term buys of the pair.

USDJPY: medium-term buys of the pair. | 03 June 2021

03 June 2021, USD/JPY

• Long-term trend: goes long. The maximum accumulation of volumes of the current contract is located in the range, of quotations 108.854-108.958. At the moment, the pair is trading higher, indicating the strength of buyers.

• Medium-term trend: goes long. The maximum accumulation of volumes of medium-term trend is located in the range, of quotations 108.804-108.894. 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 28.05.2021.

• Quotation of the higher boundary of the zone 1/4-109.681.

• Quotation of the higher boundary of the zone 1/2–109.166.

• Intraday objectives: update the highs from 28.05.2021-110.201.

• Medium-term objectives: test the lower bound of GWCZ –110.499.

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

• Buy: 109.166-109.681, Take Profit 1-110.201, Take Profit 2-110.499.

• WCZ (weekly control zone)

• GWCZ (golden weekly control zone)

• SWCZ (silver weekly control zone)

James Hoggarth
Analyst of FreshForex
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