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USDJPY: medium-term buys of the pair.

USDJPY: medium-term buys of the pair. | 04 November 2022

04 November 2022, USD/JPY

• Long-term trend: goes long. The maximum accumulation of volumes of the current contract is located in the range, of quotations 143.979-144.427. 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 148.536-148.674. 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 01.11.2022.

• Quotation of the higher boundary of the zone 1/4-147.568.

• Quotation of the higher boundary of the zone 1/2–146.391.

• Intraday objectives: update the highs from 01.11.2022-148.763.

• Medium-term objectives: test the lower bound of WCZ –149.723.

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

• Buy: 146.391-147.568, Take Profit 1-148.763, Take Profit 2-149.723.

• WCZ (weekly control zone)

• GWCZ (golden weekly control zone)

• SWCZ (silver weekly control zone)

James Hoggarth
Analyst of FreshForex
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