USD / JPY vs EUR / JPY vs GBP / JPY. Comprehensive analysis of movement options from July 29, 2019. Analysis of APLs &

Let's consider what will happen to the movement of the "Land of the Rising Sun" USD / JPY and its cross-instruments EUR / JPY and GBP / JPY from Tuesday, July 29, 2019

Minuette (H4 timeframe)

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US dollar vs Japanese yen

On July 29, 2019, the movement of the "land of the rising sun" currency instrument USD / JPY will be determined by the direction of the range breakdown :

  • resistance level of 108.75 - the lower boundary of the ISL38.2 equilibrium zone of the Minuette operating scale forks;
  • support level of 108.60 - upper boundary of the 1/2 Median Line channel of the Minuette operating scale fork.

The breakdown of the support level of 108.60 - the development of the USD / JPY movement will continue in the 1/2 Median Line channel (108.60 - 108.35 - 108.15) of the Minuette operational scale fork, and in the case of the breakdown of the lower boundary (108.15) of this channel, the downward movement of USD / JPY can be continued the boundaries of the 1/2 Median Line channel (108.00 - 107.55 - 107.10) of the Minuette operating scale fork.

If, however, a breakdown of the upper boundary of the 1/2 Median Line channel (108.25) takes place at the Minuette operational scale, we will determine the further development of the USD / JPY movement in the equilibrium zone (108.25 - 108.55 - 108.85) Minuette operating scale fork.

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Euro vs Japanese yen

On the other hand, the development of the EUR / JPY cross-instrument movement from July 29, 2019 will be due to the working out and direction of the breakdown of the boundaries of equilibrium zone (120.80 - 121.10 - 121.30) of the Minuette operating scale fork. Let's look at the animation chart.

In case of the breakdown of the upper boundary of ISL61.8 (resistance level of 121.30) of the equilibrium zone of the Minuette operational scale fork, the upward movement of EUR / JPY can be continued towards the targets - the UTL control line (121.9) Minuette operational scale fork - FSL Minuette destination line (122.15).

The combined breakdown of the lower boundary of ISL38.2 (support level of 120.80) of the Minuette operating scale fork and the upper boundary of the 1/2 Median Line channel of the Minuette (120.70) will make the development of EUR / JPY movement inside the 1/2 Median Line channels of the Minuette operational scale fork (120.70 - 120.55 - 120.35) and Minuette (120.45 - 120.02 - 119.55).

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Great Britain pound vs Japanese yen

The movement of the GBP / JPY cross-instrument from July 29, 2019 will depend on the working out and direction of the breakdown of the boundaries of equilibrium zone (133.70 - 134.00 - 134.26) of the Minuette operational scale fork. More details are presented in the animation chart.

In case of a combined breakdown of the lower boundary of ISL61.8 (support level of 133.70) of the equilibrium zone of the Minuette operating scale fork and the 1/2 Median Line Minuette (support level of 133.55), the downward movement of GBP / JPY can be continued to the targets - the lower boundary of the ISL61.8 (132.80) equilibrium zone of the Minuette operational scale - the end line FSL Minuette (132.60) with the prospect of reaching the control line LTL Minuette ( 131.00 ).

Meanwhile, in the case of the consecutive breakdown of the upper boundary of the ISL38.2 (resistance level of 134.26) of the Minuette operating scale fork and the upper boundary of the ISL38.2 (resistance level of 134.40) of the equilbrium zone of the Minuette operational scale fork will determine the development of GBP / JPY movement in the 1/2 Median Line channel Minuette (134.26 - 134.50 - 134.75), and in the case of the breakdown of the upper boundary (134.75) of this channel, the upward movement of this cross-instrument can be continued to the SSL Minuette start line (135.25) and local maximum 135.64.

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The review was compiled without regard to the news background. The opening of trading sessions of the main financial centers does not serve as a guide to action (placing orders "sell" or "buy").

The formula for calculating the dollar index is:

USDX = 50.14348112 * USDEUR0.576 * USDJPY0.136 * USDGBP0.119 * USDCAD0.091 * USDSEK0.042 * USDCHF0.036.

where power ratios correspond to the weights of currencies in the basket:

Euro - 57.6%;

Yen - 13.6% ;

Pound sterling - 11.9%;

Canadian dollar - 9.1%;

Swedish krona - 4.2%;

Swiss franc - 3.6%.

The first coefficient in the formula gives the index value to 100 on the starting date - March 1973, when the main currencies began to be freely quoted relative to each other.

The material has been provided by InstaForex Company - www.instaforex.com