USDJPY: medium-term buys of the pair. | 29 July 2021

29 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 110.019-110.108. At the moment, the pair is trading lower, indicating the strength of sellers.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 110.103-110.165. 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 23.07.2021.

• Quotation of the higher boundary of the zone 1/4-110.091.

• Quotation of the higher boundary of the zone 1/2–109.597.

• Intraday objectives: update the highs from 23.07.2021-110.590.

• Medium-term objectives: test the lower bound of WCZ –111.038.USDJPY: medium-term buys of the pair.

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

• Buy: 109.597-110.091, Take Profit 1-110.590, Take Profit 2-111.038.

• WCZ (weekly control zone)

• GWCZ (golden weekly control zone)

• SWCZ (silver weekly control zone)

James Hoggarth
Analyst of FreshForex
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