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USDJPY: medium-term buys of the pair.

USDJPY: medium-term buys of the pair. | 06 July 2022

06 July 2022, USD/JPY

• Long-term trend: temporary uncertainty. The maximum accumulation of volumes of the current contract is located in the range, of quotations 135.985-136.202. At the moment, the pair is trading lower, indicating the strength of sellers.

• Medium-term trend: goes long. The maximum accumulation of volumes of medium-term trend is located in the range, of quotations 135.993-136.303. 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 29.06.2022.

• Quotation of the higher boundary of the zone 1/4-135.925.

• Quotation of the higher boundary of the zone 1/2–134.926.

• Intraday objectives: update the highs from 29.06.2022-136.938.

• Medium-term objectives: test the lower bound of GWCZ –137.283.

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

• Buy: 134.926-135.925, Take Profit 1-136.938, Take Profit 2-137.283.

• WCZ (weekly control zone)

• GWCZ (golden weekly control zone)

• SWCZ (silver weekly control zone)

James Hoggarth
Analyst of FreshForex
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