USDJPY: medium-term buys of the pair. | 04 October 2022

04 October 2022, USD/JPY

• Long-term trend: temporary uncertainty. The maximum accumulation of volumes of the current contract is located in the range, of quotations 144.398-144.833. Currently, the pair is trading within the specified range, indicating a temporary uncertainty.

• Medium-term trend: goes long. The maximum accumulation of volumes of medium-term trend is located in the range, of quotations 144.562-144.718. 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 30.09.2022.

• Quotation of the higher boundary of the zone 1/4-144.313.

• Quotation of the higher boundary of the zone 1/2–143.194.

• Intraday objectives: update the highs from 30.09.2022-145.449.

• Medium-term objectives: test the lower bound of GWCZ –146.942.

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

• Buy: 143.194-144.313, Take Profit 1-145.449, Take Profit 2-146.942.

• WCZ (weekly control zone)

• GWCZ (golden weekly control zone)

• SWCZ (silver weekly control zone)

James Hoggarth
Analyst of FreshForex
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