USDJPY: temporary uncertainty. | 08 February 2019

08 February 2019, USD/JPY

Long-term trend: goes long. The maximum accumulation of volumes of the current contract is located in the range, of quotations 109.661-109.898. 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 109.847-109.937. 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 04.02.2019. Quotation of the higher boundary of the zone 1/4-109.723. Quotation of the higher boundary of the zone 1/2–10109.287. Intraday objectives: update the lows from 04.02.2019–110.154. Medium-term objectives: test the lower bound of GWCZ –111.088. 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 the range of favorable prices 109.287-109.723 in the formation of a reversal pattern.

Buy: 109.287-109.723, Take Profit 1-110.154, Take Profit 2-111.088.

WCZ (weekly control zone)

GWCZ (golden weekly control zone)

SWCZ (silver weekly control zone)

James Hoggarth
Analyst of FreshForex
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