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USDJPY: medium-term buys of the pair.

USDJPY: medium-term buys of the pair. | 29 June 2023

29 June 2023, USD/JPY

• Long-term trend: goes long. The maximum accumulation of volumes of the current contract is located in the range, of quotations 141.400-142.000. 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 141.450-141.800. 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 28.06.2023.

• Quotation of the higher boundary of the zone 1/4-143.215.

• Quotation of the higher boundary of the zone 1/2–141.906.

• Intraday objectives: update the highs from 28.06.2023-144.548.

• Medium-term objectives: test the lower bound of GWCZ –145.050.

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

• Buy: 141.906-143.215, Take Profit 1-144.548, Take Profit 2-145.050.

• WCZ (weekly control zone)

• GWCZ (golden weekly control zone)

• SWCZ (silver weekly control zone)

James Hoggarth
Analyst of FreshForex
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