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USDJPY: medium-term sells of the pair.

USDJPY: medium-term sells of the pair. | 29 October 2021

29 October 2021, USD/JPY

• Long-term trend: goes short. The maximum accumulation of volumes of the current contract is located in the range, of quotations 113.550-113.710. At the moment, the pair is trading lower, indicating the strength of sellers.

• Medium-term trend: goes short. The maximum accumulation of volumes of the current contract is located in the range, of quotations 113.614-113.686. Currently, the pair is trading within the specified range, indicating a temporary uncertainty.

• The area of profitable prices for sell in terms of marginal cover is located between zones 1/4 and 1/2 constructed from the minimum 28.10.2021.

• Quotation of the lower boundary of the zone 1/4 – 113.740.

• Quotation of the lower boundary of the zone 1/2 –114.234.

• Intraday objectives: update the lows from 28.10.2021-113.251.

• Medium-term objectives: test the higher bound of WCZ –112.728.

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

• Sell: 113.740-114.234, Take Profit 1-113.251, Take Profit 2-112.728.

• WCZ (weekly control zone)

• GWCZ (golden weekly control zone)

• SWCZ (silver weekly control zone)

James Hoggarth
Analyst of FreshForex
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