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USDJPY: medium-term buys of the pair.

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

22 May 2023, USD/JPY

• Long-term trend: goes long. The maximum accumulation of volumes of the current contract is located in the range, of quotations 133.400-134.200. At the moment, the pair is trading higher, indicating the strength of buyers.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 134.400-134.700. 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 18.05.2023.

• Quotation of the higher boundary of the zone 1/4-137.299.

• Quotation of the higher boundary of the zone 1/2–135.922.

• Intraday objectives: update the highs from 18.05.2023-138.704.

• Medium-term objectives: test the lower bound of GWCZ –141.555.USDJPY: medium-term buys of the pair.

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

• Buy: 135.922-137.299, Take Profit 1-138.704, Take Profit 2-141.555.

• WCZ (weekly control zone)

• GWCZ (golden weekly control zone)

• SWCZ (silver weekly control zone)

James Hoggarth
Analyst of FreshForex
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