USDJPY: medium-term buys of the pair. | 23 October 2023

23 October 2023, USD/JPY

• Long-term trend: goes long. The maximum accumulation of volumes of the current contract is located in the range, of quotations 148.600-149.100. 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 148.700-149.000 and 149.300-149.500. 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 19.10.2023.

• Quotation of the higher boundary of the zone 1/4-148.683.

• Quotation of the higher boundary of the zone 1/2–147.392.

• Intraday objectives: update the highs from 19.10.2023-149.998.

• Medium-term objectives: test the lower bound of GWCZ –152.264.

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

• Buy: 147.392-148.683, Take Profit 1-149.998, Take Profit 2-152.264.

• WCZ (weekly control zone)

• GWCZ (golden weekly control zone)

• SWCZ (silver weekly control zone)

James Hoggarth
Analyst of FreshForex
Agree with the review?
Traders' opinion:
Close
Log in
Your browser does not support cookie. If cookie is disabled in your Internet browser, you may have problems with accessing Client Area. How to enable cookie .