USDJPY: medium-term buys of the pair. | 19 May 2021

19 May 2021, USD/JPY

• Long-term trend: goes long. The maximum accumulation of volumes of the current contract is located in the range, of quotations 108.857-108.932. 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 108.804-108.894. 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 13.05.2021.

• Quotation of the higher boundary of the zone 1/4-109.274.

• Quotation of the higher boundary of the zone 1/2–108.763.

• Intraday objectives: update the highs from 13.05.2021-109.789.

• Medium-term objectives: test the lower bound of GWCZ –110.511.USDJPY: medium-term buys of the pair.

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

• Buy: 108.763-109.274, Take Profit 1-109.789, Take Profit 2-110.511.

• WCZ (weekly control zone)

• GWCZ (golden weekly control zone)

• SWCZ (silver weekly control zone)

James Hoggarth
Analyst of FreshForex
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