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USDJPY: medium-term buys of the pair.

USDJPY: medium-term buys of the pair. | 26 July 2023

26 July 2023, USD/JPY

• Long-term trend: temporary uncertainty. The maximum accumulation of volumes of the current contract is located in the range, of quotations 143.500–144.100. At the moment, the pair is trading lower, indicating the strength of sellers.

• Medium-term trend: goes long. The maximum accumulation of volumes of medium-term trend is located in the range, of quotations 138.400-138.700. 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 21.07.2023.

• Quotation of the higher boundary of the zone 1/4-140.598.

• Quotation of the higher boundary of the zone 1/2–139.327.

• Intraday objectives: update the highs from 21.07.2023-141.893.

• Medium-term objectives: test the lower bound of GWCZ –144.804.

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

• Buy: 139.327-140.598, Take Profit 1-141.893, Take Profit 2-144.804.

• WCZ (weekly control zone)

• GWCZ (golden weekly control zone)

• SWCZ (silver weekly control zone)

James Hoggarth
Analyst of FreshForex
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