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USDJPY: medium-term buys of the pair.

USDJPY: medium-term buys of the pair. | 13 April 2020

13 April 2020, USD/JPY

• Long-term trend: temporary uncertainty. The maximum accumulation of volumes of the current contract is located in the range, of quotations 108.763-108.987. 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 108.447-108.536. At the moment, the pair is trading lower, indicating the weakness 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 06.04.2020.

• Quotation of the higher boundary of the zone 1/4-108.451.

• Quotation of the higher boundary of the zone 1/2–107.521.

• Intraday objectives: update the highs from 06.04.2020-109.396.

• Medium-term objectives: test the lower bound of WCZ –110.596.

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

• Buy: 107.521-108.451, Take Profit 1-109.396, Take Profit 2-110.596.

• WCZ (weekly control zone)

• GWCZ (golden weekly control zone)

• SWCZ (silver weekly control zone)

James Hoggarth
Analyst of FreshForex
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