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USDJPY: temporary uncertainty.

USDJPY: temporary uncertainty. | 07 January 2019

07 January 2019, USD/JPY

Long-term trend: goes short. The maximum accumulation of volumes of the current contract is located in the range, of quotations 110.965-111.192. At the moment, the pair is trading lower, which indicates the strength of sellers. Medium-term trend: goes long. The maximum accumulation of volumes of medium-term trend is located at the quote 108.241. At the moment, the pair is trading lower, indicating the weakness of buyers. The area of profitable prices to buy in terms of marginal cover is located between zones 1/4 and 1/2 constructed from the maximum 07.01.2019. Quotation of the higher boundary of the zone 1/4-108.189, quotation of the higher boundary of the zone 1/2–107.764. Intraday objectives: update the highs from 07.01.2019–108.628, Medium-term objectives: test the lower bound of GWCZ–108.957. Trading recommendations: Long-term and medium-term trends in different directions, I recommend to refrain from entering the transaction.

WCZ (weekly control zone)

GWCZ (golden weekly control zone)

SWCZ (silver weekly control zone)

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James Hoggarth
Analyst of FreshForex
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