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USDJPY: medium-term buys of the pair.

USDJPY: medium-term buys of the pair. | 17 November 2023

17 November 2023, USD/JPY

• Long-term trend: goes long. The maximum accumulation of volumes of the current contract is located in the range, of quotations 149.000-149.500. 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 149.100-149.450, 150.500-150.800 and 151.350-151.640. 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 14.11.2023.

• Quotation of the higher boundary of the zone 1/4-150.764.

• Quotation of the higher boundary of the zone 1/2–149.601.

• Intraday objectives: update the highs from 14.11.2023-151.644.

• Medium-term objectives: test the lower bound of GWCZ –153.844.USDJPY: medium-term buys of the pair.

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

• Buy: 149.601-150.764, Take Profit 1-151.644, Take Profit 2-153.844.

• WCZ (weekly control zone)

• GWCZ (golden weekly control zone)

• SWCZ (silver weekly control zone)

James Hoggarth
Analyst of FreshForex
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