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USDJPY: medium-term buys of the pair.

USDJPY: medium-term buys of the pair. | 05 January 2023

05 January 2023, USD/JPY

• Long-term trend: goes short. The maximum accumulation of volumes of the current contract is located in the range, of quotations 131.800-132.500. Currently, the pair is trading within the specified range, indicating a temporary uncertainty.USDJPY: medium-term buys of the pair.

• Medium-term trend: goes long. The maximum accumulation of volumes of medium-term trend is located in the range, of quotations 130.540-130.860. At the moment, the pair is trading higher, indicating the strength 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 04.01.2023.

• Quotation of the higher boundary of the zone 1/4-131.360.

• Quotation of the higher boundary of the zone 1/2–130.111.

• Intraday objectives: update the highs from 04.01.2023-132.635.

• Medium-term objectives: test the lower bound of WCZ –134.620.USDJPY: medium-term buys of the pair.

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

• Buy: 130.111-131.360, Take Profit 1-132.635, Take Profit 2-134.620.

• WCZ (weekly control zone)

• GWCZ (golden weekly control zone)

• SWCZ (silver weekly control zone)

James Hoggarth
Analyst of FreshForex
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