USDJPY: medium-term buys of the pair. | 18 December 2018

18 December 2018, USD/JPY

Long-term trend: temporary uncertainty. New contract. The maximum accumulation of volumes of the current contract is located in the range, of quotations 112.747-113.485. Currently, the pair is trading within the specified range, indicating a temporary uncertainty.USDJPY: medium-term buys of the pair. Medium-term trend: goes long. It is very difficult to make a forecast in terms of volume analysis, as the new contract began to trade and the past volumes of the medium-term trend lost their meaning. The maximum accumulation of volumes of correction is located in the range, of quotations 112.743–112.474. Currently, the pair is trading within the specified range, indicating a temporary uncertainty. 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 13.12.2018. Quotation of the higher boundary of the zone 1/4–113.237, quotation of the higher boundary of the zone 1/2-112.778. Intraday objectives: update the highs from 13.12.2018–113.708, Medium-term objectives: test the lower bound of WCZ–114.066.USDJPY: medium-term buys of the pair. Trading recommendations: The volume of the long-term trend prevents entry into the transaction, I recommend refraining from new positions or Buys from a range of favorable prices 112.778–113.237 in the formation of a reversal pattern.

Buy: 112.778 – 113.237, Take Profit 1-113.708, Take Profit 2-114.066.

WCZ (weekly control zone)

GWCZ (golden weekly control zone)

SWCZ (silver weekly control zone)

James Hoggarth
Analyst of FreshForex
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