USDJPY: medium-term buys of the pair. | 31 Juli 2019

31 Juli 2019, USD/JPY

Long-term trend: goes long. The maximum accumulation of volumes of the current contract is located in the range, of quotations 108.021-108.239. At the moment, the pair is trading higher, indicating the strength of buyers.USDJPY: medium-term sells of the pair. Medium-term trend: goes long. The maximum accumulation of volumes of medium-term trend is located in the range, of quotations 108.612-108.694. Currently, the pair is trading within the specified range, indicating a temporary uncertainty. The area of profitable prices for buy in terms of marginal cover is located between zones 1/4 and 1/2 constructed from the maximum 30.07.2019. Quotation of the higher boundary of the zone 1/4-108.519. Quotation of the higher boundary of the zone 1/2–108.098. Intraday objectives: update the highs from 30.07.2019-108.948. Medium-term objectives: test the lower bound of GWCZ –109.745.USDJPY: medium-term sells of the pair. Trading recommendations: the volume of the medium-term trend prevents the entry into the deal to buy, I recommend staying out of the market or very careful buys from the range of favorable prices 108.098-108.519 in the formation of a reversal pattern.

Buy: 108.098-108.519, Take Profit 1-108.948, Take Profit 2-109.745.

WCZ (weekly control zone)

GWCZ (golden weekly control zone)

SWCZ (silver weekly control zone)

James Hoggarth
Analyst of FreshForex
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