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USDJPY: medium-term buys of the pair.

USDJPY: medium-term buys of the pair. | 29 July 2019

29 July 2019, USD/JPY

Long-term trend: temporary uncertainty. The maximum accumulation of volumes of the current contract is located in the range, of quotations 108.180-108.387. At the moment, the pair is trading higher, indicating the strength of buyers. Medium-term trend: goes long. The maximum accumulation of volumes of medium-term trend is located in the range, of quotations 108.079-108.152. 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 26.07.2019. Quotation of the higher boundary of the zone 1/4-108.398. Quotation of the higher boundary of the zone 1/2–107.975. Intraday objectives: update the highs from 26.07.2019-108.884. Medium-term objectives: test the lower bound of GWCZ –109.745. Trading recommendations: buys from the range of favorable prices 107.975-108.398 in the formation of a reversal pattern.

Buy: 107.975-108.398, Take Profit 1-108.884, Take Profit 2-109.745.

WCZ (weekly control zone)

GWCZ (golden weekly control zone)

SWCZ (silver weekly control zone)

James Hoggarth
Analyst of FreshForex
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