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USDJPY: medium-term buys of the pair

USDJPY: medium-term buys of the pair | 09 July 2019

09 July 2019, USD/JPY

Long-term trend: goes short. The maximum accumulation of volumes of the current contract is located in the range, of quotations 107.687-107.842 and 108.289-108.502. At the moment, the pair is trading higher, indicating the weakness of sellers. Medium-term trend: goes long. The maximum accumulation of volumes of medium-term trend is located in the range, of quotations 107.682-107.756. At the moment, the pair is trading higher, indicating the strength of buyers. The area of profitable prices for buy in terms of marginal cover is located between zones 1/4 and 1/2 constructed from the maximum 09.07.2019. Quotation of the higher boundary of the zone 1/4-108.466. Quotation of the higher boundary of the zone 1/2–108.053. Intraday objectives: update the highs from 09.07.2019-108.893. Medium-term objectives: test the lower bound of GWCZ –109.297. Trading recommendations: buys from a range of favorable prices 108.053-108.466 in the formation of a reversal pattern.

Buy: 108.053-108.466, Take Profit 1-108.893, Take Profit 2-109.297.

WCZ (weekly control zone)

GWCZ (golden weekly control zone)

SWCZ (silver weekly control zone)

James Hoggarth
Analyst of FreshForex
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