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USDJPY: medium-term sells of the pair.

USDJPY: medium-term sells of the pair. | 23 July 2019

23 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 108.147-108.382. 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 107.855-107.947. 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 18.07.2019. Quotation of the lower boundary of the zone 1/4-107.616. Quotation of the lower boundary of the zone 1/2–108.040. Intraday objectives: update the lows from 18.07.2019-107.204. Medium-term objectives: test the higher bound of GWCZ –106.481. 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 107.616-108.040 in the formation of a reversal pattern.

Sell: 107.616-108.040, Take Profit 1-107.204, Take Profit 2-106.481.

WCZ (weekly control zone)

GWCZ (golden weekly control zone)

SWCZ (silver weekly control zone)

James Hoggarth
Analyst of FreshForex
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