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USDJPY: medium-term buys of the pair.

USDJPY: medium-term buys of the pair. | 22 February 2023

22 February 2023, USD/JPY

• Long-term trend: goes long. The maximum accumulation of volumes of the current contract is located in the range, of quotations 130.900-131.500. 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 129.600-129.900, 130.700-131.000 and 133.900-134.200. 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 21.02.2023.

• Quotation of the higher boundary of the zone 1/4-133.842.

• Quotation of the higher boundary of the zone 1/2–132.528.

• Intraday objectives: update the highs from 21.02.2023-135.182.

• Medium-term objectives: test the lower bound of SWCZ –137.255.

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

• Buy: 132.528-133.842, Take Profit 1-135.182, Take Profit 2-137.255.

• WCZ (weekly control zone)

• GWCZ (golden weekly control zone)

• SWCZ (silver weekly control zone)

James Hoggarth
Analyst of FreshForex
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