USDJPY: medium-term sells of the pair

07 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 112.057–112.484 and 113.758-113.865. Currently, the pair is trading within the specified ranges, indicating a temporary uncertainty.USDJPY: medium-term sells of the pair Medium-term trend: goes short. The maximum accumulation of volumes of medium-term trend is located at the quote 112.755 and 113.477. 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 06.12.2018. Quotation of the lower boundary of the zone 1/4 – 112.682, quotation of the lower boundary of the zone 1/2 -113.148. Intraday objectives: update the lows from 06.12.2018 – 112.193, medium-term objectives: test the higher bound of GWCZ – 111.297.USDJPY: medium-term sells of the pair Trading recommendations: Sells from a range of favorable prices 112.682 – 113.148 in the formation of a reversal pattern.

Sell: 112.682 – 113.148, Take Profit 1-112.193, Take Profit 2-111.297.

James Hoggarth
Analyst of FreshForex
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