USDJPY: medium-term sells of the pair. | 06 August 2019

06 August 2019, USD/JPY

Long-term trend: goes short.The maximum accumulation of volumes of the current contract is located in the range, of quotations 107.969-108.170. At the moment, the pair is trading lower, indicating the strength of sellers.USDJPY: medium-term sells of the pair. Medium-term trend: goes short. The maximum accumulation of volumes of medium-term trend is located in the range, of quotations 105.957-106.082. At the moment, the pair is trading higher, indicating the weakness 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 06.08.2019. Quotation of the lower boundary of the zone 1/4-105.924. Quotation of the lower boundary of the zone 1/2–106.325. Intraday objectives: update the lows from 06.08.2019-105.514. Medium-term objectives: test the higher bound of GWCZ –105.183.USDJPY: medium-term sells of the pair. Trading recommendations: the volume of the medium-term trend prevents the entry into the deal to sell, I recommend staying out of the market or very careful sells from the range of favorable prices 105.924-106.325 in the formation of a reversal pattern.

Sell: 105.924-106.325, Take Profit 1-105.514, Take Profit 2-105.183.

WCZ (weekly control zone)

GWCZ (golden weekly control zone)

SWCZ (silver weekly control zone)

James Hoggarth
Analyst of FreshForex
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