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USDJPY: medium-term buys of the pair.

USDJPY: medium-term buys of the pair. | 28 April 2023

28 April 2023, USD/JPY

• Long-term trend: goes long. The maximum accumulation of volumes of the current contract is located in the range, of quotations 132.000-132.500. 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 132.200-132.400, 133.050-133.250 and 133.900-134.100. Currently, the pair is trading within the specified range, indicating a temporary uncertainty.

• 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 19.04.2023.

• Quotation of the higher boundary of the zone 1/4-133.606.

• Quotation of the higher boundary of the zone 1/2–132.310.

• Intraday objectives: update the highs from 19.04.2023-134.928.

• Medium-term objectives: test the lower bound of GWCZ –136.772.

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

• Buy: 132.310-133.606, Take Profit 1-134.928, Take Profit 2-136.772.

• WCZ (weekly control zone)

• GWCZ (golden weekly control zone)

• SWCZ (silver weekly control zone)

James Hoggarth
Analyst of FreshForex
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