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USDJPY: medium-term sells of the pair.

USDJPY: medium-term sells of the pair. | 01 February 2019

01 February 2019, USD/JPY

Long-term trend: goes short. The maximum accumulation of volumes of the current contract is located at the quote 109.661. At the moment, the pair is trading lower, which indicates the strength of sellers. Medium-term trend: goes short. The maximum accumulation of volumes of medium-term trend is located in the range, of quotations 109.363-109.615. 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 31.01.2019. Quotation of the lower boundary of the zone 1/4-108.915. Quotation of the lower boundary of the zone 1/2–109.350. Intraday objectives: update the lows from 31.01.2019–108.499. Medium-term objectives: test the higher bound of WCZ –108.280. Trading recommendations: sells from a range of favorable prices 108.915-109.350 in the formation of a reversal pattern.

Sell: 108.915-109.350, Take Profit 1-108.499, Take Profit 2-108.280.

WCZ (weekly control zone)

GWCZ (golden weekly control zone)

SWCZ (silver weekly control zone)

James Hoggarth
Analyst of FreshForex
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