USDJPY: medium-term buys of the pair. | 20 May 2019

20 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 long. The maximum accumulation of volumes of medium-term trend is located in the range, of quotations 109.583-109.648. At the moment, the pair is trading higher, indicating the strength 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 20.05.2019. Quotation of the higher boundary of the zone 1/4-109.882. Quotation of the higher boundary of the zone 1/2–109.452. Intraday objectives: update the highs from 20.05.2019-110.322. Medium-term objectives: test the lower bound of WCZ –110.746. 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 109.452-109.882 in the formation of a reversal pattern.

Buy: 109.452-109.882, Take Profit 1-110.322, Take Profit 2-110.746.

WCZ (weekly control zone)

GWCZ (golden weekly control zone)

SWCZ (silver weekly control zone)

James Hoggarth
Analyst of FreshForex
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