USDJPY: medium-term sells of the pair. | 31 January 2020

31 January 2020, USD/JPY

• Long-term trend: temporary uncertainty. The maximum accumulation of volumes of the current contract is located in the range, of quotations 109.017-109.091. Currently, the pair is trading within the specified range, indicating a temporary uncertainty.

• Medium-term trend: goes short. The maximum accumulation of volumes of medium-term trend is located in the range, of quotations 108.882-108.926. 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 30.01.2020.

• Quotation of the lower boundary of the zone 1/4-109.085.

• Quotation of the lower boundary of the zone 1/2–109.596.

• Intraday objectives: update the lows from 30.01.2020-108.578.

• Medium-term objectives: test the higher bound of WCZ –108.174.

• Trading recommendations: sells from the range of favorable prices in the formation of a reversal pattern.

• Sell: 109.085-109.596, Take Profit 1-108.578, Take Profit 2-108.174.

• WCZ (weekly control zone)

• GWCZ (golden weekly control zone)

• SWCZ (silver weekly control zone)

James Hoggarth
Analyst of FreshForex
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