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USDJPY: medium-term sells of the pair.

USDJPY: medium-term sells of the pair. | 06 May 2022

06 May 2022, USD/JPY

• Long-term trend: goes long. The maximum accumulation of volumes of the current contract is located in the range, of quotations 129.911-130.348. Currently, the pair is trading within the specified range, indicating a temporary uncertainty.

• Medium-term trend: goes short. The maximum accumulation of volumes of the current contract is located in the range, of quotations 129.964-130.225. 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 04.05.2022.

• Quotation of the lower boundary of the zone 1/4 – 129.474.

• Quotation of the lower boundary of the zone 1/2 – 130.316.

• Intraday objectives: update the lows from 04.05.2022-128.643.

• Medium-term objectives: test the higher bound of WCZ –127.897.

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

• Sell: 129.474-130.316, Take Profit 1-128.643, Take Profit 2-127.897.

• WCZ (weekly control zone)

• GWCZ (golden weekly control zone)

• SWCZ (silver weekly control zone)

James Hoggarth
Analyst of FreshForex
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