USDJPY: medium-term sells of the pair. | 13 July 2023

13 July 2023, USD/JPY

• Long-term trend: temporary uncertainty. The maximum accumulation of volumes of the current contract is located in the range, of quotations 143.800-144.400. At the moment, the pair is trading lower, indicating the strength of sellers.

• Medium-term trend: goes short. The maximum accumulation of volumes of the current contract is located in the range, of quotations 143.900-144.200. At the moment, the pair is trading lower, indicating the strength 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 13.07.2023.

• Quotation of the lower boundary of the zone 1/4 – 139.317.

• Quotation of the lower boundary of the zone 1/2 – 140.585.

• Intraday objectives: update the lows from 13.07.2023-138.072.

• Medium-term objectives: test the higher bound of GWCZ –137.025.

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

• Sell: 139.317-140.585, Take Profit 1-138.072, Take Profit 2-137.025.

• WCZ (weekly control zone)

• GWCZ (golden weekly control zone)

• SWCZ (silver weekly control zone)

James Hoggarth
Analyst of FreshForex
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