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USDJPY | 05 April 2023

05 April 2023, USD/JPY

• Long-term trend: temporary uncertainty. The maximum accumulation of volumes of the current contract is located in the range, of quotations 132.300-132.800. At the moment, the pair is trading lower, indicating the strength of sellers.USDJPY

• Medium-term trend: goes long. The maximum accumulation of volumes of medium-term trend is located in the range, of quotations 132.450-132.660. 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 03.04.2023.

• Quotation of the higher boundary of the zone 1/4-132.427.

• Quotation of the higher boundary of the zone 1/2–131.163.

• Intraday objectives: update the highs from 03.04.2023-133.724.

• Medium-term objectives: test the lower bound of WCZ –134.554.USDJPY

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

• Buy: 131.163-132.427, Take Profit 1-133.724, Take Profit 2-134.554.

• WCZ (weekly control zone)

• GWCZ (golden weekly control zone)

• SWCZ (silver weekly control zone)

James Hoggarth
Analyst of FreshForex
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