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USDJPY: medium-term buys of the pair

USDJPY: medium-term buys of the pair | 28 January 2019

28 January 2019, USD/JPY

Long-term trend: goes long. The maximum accumulation of volumes of the current contract is located in the range, of quotations 108.347-109.876. 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 109.518-109.636. 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 23.01.2019. Quotation of the higher boundary of the zone 1/4-109.577. Quotation of the higher boundary of the zone 1/2–109.136. Intraday objectives: update the highs from 23.01.2019–110.001. Medium-term objectives: test the lower bound of GWCZ –110.342. Trading recommendations: the volume of the medium-term trend prevents the entry into the deal to buy, I recommend staying out of the market or very careful buys from a range of favorable prices 109.136-109.577 in the formation of a reversal pattern.

Buy: 109.136-109.577, Take Profit 1-110.001, Take Profit 2-110.342.

WCZ (weekly control zone)

GWCZ (golden weekly control zone)

SWCZ (silver weekly control zone)

James Hoggarth
Analyst of FreshForex
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