USDJPY: medium-term sells of the pair. | 31 May 2022

31 May 2022, USD/JPY

• Long-term trend: goes short. The maximum accumulation of volumes of the current contract is located in the range, of quotations 127.678-127.897. At the moment, the pair is trading higher, indicating the weakness of sellers.USDJPY: medium-term sells of the pair.

• Medium-term trend: goes short. The maximum accumulation of volumes of the current contract is located in the range, of quotations 127.698-127.867. At the moment, the pair is trading higher, indicating the weakness of sellers.

• The area of profitable prices for sell in terms of marginal cover is located between zones 1/4 and 1/2 constructed from the minimum 24.05.2022.

• Quotation of the lower boundary of the zone 1/4 – 127.124.

• Quotation of the lower boundary of the zone 1/2 – 127.937.

• Intraday objectives: update the lows from 24.05.2022-126.322.

• Medium-term objectives: test the higher bound of GWCZ –124.871.USDJPY: medium-term sells of the pair.

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

• Sell: 127.124-127.937, Take Profit 1-126.322, Take Profit 2-124.871.

• WCZ (weekly control zone)

• GWCZ (golden weekly control zone)

• SWCZ (silver weekly control zone)

James Hoggarth
Analyst of FreshForex
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