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

17 May 2023, USD/JPY

• Long-term trend: goes long. The maximum accumulation of volumes of the current contract is located in the range, of quotations 133.700-134.300. 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 134.550-134.700. At the moment, the pair is trading higher, indicating the strength 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 16.05.2023.

• Quotation of the higher boundary of the zone 1/4-135.308.

• Quotation of the higher boundary of the zone 1/2–133.972.

• Intraday objectives: update the highs from 16.05.2023-136.670.

• Medium-term objectives: test the lower bound of WCZ –138.755.USDJPY: medium-term buys of the pair.

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

• Buy: 133.972-135.308, Take Profit 1-136.670, Take Profit 2-138.755.

• WCZ (weekly control zone)

• GWCZ (golden weekly control zone)

• SWCZ (silver weekly control zone)

James Hoggarth
Analyst of FreshForex
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