USDJPY: medium-term sells of the pair. | 02 August 2021

02 August 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.

• Medium-term trend: goes short. The maximum accumulation of volumes of the current contract is located in the range, of quotations 109.744-109.831. 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 30.07.2021.

• Quotation of the lower boundary of the zone 1/4 – 109.843.

• Quotation of the lower boundary of the zone 1/2 –110.339.

• Intraday objectives: update the lows from 30.07.2021-109.350.

• Medium-term objectives: test the higher bound of WCZ –108.615.

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

• Sell: 109.843-110.339, Take Profit 1-109.350, Take Profit 2-108.615.

• WCZ (weekly control zone)

• GWCZ (golden weekly control zone)

• SWCZ (silver weekly control zone)

James Hoggarth
Analyst of FreshForex
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