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USDJPY: medium-term buys of the pair.

USDJPY: medium-term buys of the pair. | 04 August 2023

04 August 2023, USD/JPY

• Long-term trend: goes long. The maximum accumulation of volumes of the current contract is located in the range, of quotations 143.400-144.000. At the moment, the pair is trading lower, indicating the weakness 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 141.000-141.250 and 143.200-143.400. Currently, the pair is trading within the specified range, indicating a temporary uncertainty.

• 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 03.08.2023.

• Quotation of the higher boundary of the zone 1/4-142.532.

• Quotation of the higher boundary of the zone 1/2–141.221.

• Intraday objectives: update the highs from 03.08.2023-143.867.

• Medium-term objectives: test the lower bound of GWCZ –144.576.USDJPY: medium-term buys of the pair.

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

• Buy: 141.221-142.532, Take Profit 1-143.867, Take Profit 2-144.576.

• WCZ (weekly control zone)

• GWCZ (golden weekly control zone)

• SWCZ (silver weekly control zone)

James Hoggarth
Analyst of FreshForex
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