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USDJPY: medium-term sells of the pair.

USDJPY: medium-term sells of the pair. | 24 May 2019

24 May 2019, USD/JPY

Long-term trend: goes short. The maximum accumulation of volumes of the current contract is located in the range, of quotations 111.668-111.791. At the moment, the pair is trading lower, indicating 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 110.209-110.275. At the moment, the pair is trading lower, indicating 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 23.05.2019. Quotation of the lower boundary of the zone 1/4-109.884. Quotation of the lower boundary of the zone 1/2–110.318. Intraday objectives: update the lows from 23.05.2019-109.455. Medium-term objectives: test the higher bound of WCZ –108.934. Trading recommendations: long-term and medium-term trends in different directions, I recommend staying out of the market or very careful buys from the range of favorable prices 109.884-110.318 in the formation of a reversal pattern.

Sell: 109.884-110.318, Take Profit 1-109.455, Take Profit 2-108.934.

WCZ (weekly control zone)

GWCZ (golden weekly control zone)

SWCZ (silver weekly control zone)

James Hoggarth
Analyst of FreshForex
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