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USDJPY: medium-term sells of the pair

USDJPY: medium-term sells of the pair | 06 December 2018

06 December 2018, USD/JPY

Long-term trend: goes long. The maximum accumulation of volumes of the current contract is located in the range, of quotations 112.057–112.4684 and 113.758-113.865. Currently, the pair is trading within the specified ranges, indicating a temporary uncertainty. Medium-term trend: goes short. The maximum accumulation of volumes of medium-term trend is located at the quote 113.513. At the moment, the pair is trading lower, which indicates 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 04.12.2018. Quotation of the lower boundary of the zone 1/4 - 113.029, quotation of the lower boundary of the zone 1/2 -113.490. Intraday objectives: update the lows from 04.12.2018 – 112.579, medium-term objectives: test the higher bound of WCZ – 112.193. Trading recommendations: Long-term and medium-term trends in different directions, I recommend to refrain from entering the transaction or a very neat Sells from a range of favorable prices 113.029 – 113.490 in the formation of a reversal pattern.

Sell: 113.029 – 113.490, Take Profit 1-112.579, Take Profit 2-112.193.

James Hoggarth
Analyst of FreshForex
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