USDJPY – Down
· Long-term trend: goes short. The maximum accumulation of volumes of the current contract is located in the range, of quotations 132.300-132.800. At the moment, the pair is trading higher, indicating the weakness of sellers.
· Medium-term trend: goes long. The maximum accumulation of volumes of medium-term trend is located in the range, of quotations 132.450-132.660. 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 31.03.2023.
· Quotation of the higher boundary of the zone 1/4-132.303.
· Quotation of the higher boundary of the zone 1/2–131.042.
· Intraday objectives: update the highs from 31.03.2023-133.567.
· Medium-term objectives: test the lower bound of WCZ –134.580.
· Trading recommendations: buys from the range of favorable prices in the formation of a reversal pattern.
· Buy: 131.042-132.303, Take Profit 1-133.567, Take Profit 2-134.580.
You may check other analytical reviews on FreshForex website. Source: freshforex.com.
