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USDJPY: medium-term sells of the pair.

USDJPY: medium-term sells of the pair. | 24 May 2022

24 May 2022, USD/JPY

• Long-term trend: goes short. The maximum accumulation of volumes of the current contract is located in the range, of quotations 129.913-130.199. 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 129.268-129.381. At the moment, the pair is trading lower, indicating the strength of sellers.

• 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 19.05.2022.

• Quotation of the lower boundary of the zone 1/4 – 127.819.

• Quotation of the lower boundary of the zone 1/2 – 128.640.

• Intraday objectives: update the lows from 19.05.2022-127.008.

• Medium-term objectives: test the higher bound of WCZ –126.478.

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

• Sell: 127.819-128.640, Take Profit 1-127.008, Take Profit 2-126.478.

• WCZ (weekly control zone)

• GWCZ (golden weekly control zone)

• SWCZ (silver weekly control zone)

James Hoggarth
Analyst of FreshForex
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