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USDJPY: medium-term buys of the pair.

USDJPY: medium-term buys of the pair. | 16 July 2021

16 July 2021, USD/JPY

• Long-term trend: goes short. The maximum accumulation of volumes of the current contract is located in the range, of quotations 110.027-110.098. Currently, the pair is trading within the specified range, indicating a temporary uncertainty.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 110.300-110.365. 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 14.07.2021.

• Quotation of the higher boundary of the zone 1/4-110.201.

• Quotation of the higher boundary of the zone 1/2–109.706.

• Intraday objectives: update the highs from 14.07.2021-110.701.

• Medium-term objectives: test the lower bound of WCZ –111.521.USDJPY: medium-term buys of the pair.

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

• Buy: 109.706-110.201, Take Profit 1-110.701, Take Profit 2-111.521.

• WCZ (weekly control zone)

• GWCZ (golden weekly control zone)

• SWCZ (silver weekly control zone)

James Hoggarth
Analyst of FreshForex
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