USDJPY: medium-term sells of the pair. | 02 August 2022

02 August 2022, USD/JPY

• Long-term trend: goes short. The maximum accumulation of volumes of the current contract is located in the range, of quotations 135.751-136.094. 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 134.402-134.634 and 133.185-133.431. 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 02.08.2022.

• Quotation of the lower boundary of the zone 1/4 – 131.436.

• Quotation of the lower boundary of the zone 1/2 – 132.387.

• Intraday objectives: update the lows from 02.08.2022-130.390.

• Medium-term objectives: test the higher bound of GWCZ –129.343.

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

• Sell: 131.436-132.387, Take Profit 1-130.390, Take Profit 2-129.343.

• WCZ (weekly control zone)

• GWCZ (golden weekly control zone)

• SWCZ (silver weekly control zone)

James Hoggarth
Analyst of FreshForex
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