Midsummer - What's Next? Rising Sun currency cross instruments - EUR / JPY & GBP / JPY - Get to know Forex

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Midsummer – What’s Next? Rising Sun currency cross instruments – EUR / JPY & GBP / JPY

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Operational scale Minute (timeframe h4) EUR / JPY & GBP / JPY – h4 – working out ranges and …? Review of the development of the movement of these cross-instruments since July 15, 2021. Previous review of EUR / JPY & GBP / JPY in the h4 timeframe from 18:51 2021-06-15 UTC + 3 ___________________ Euro vs Japanese Yen EUR / JPY movement – h4 from 15 July 2021 will be determined by the development and direction of the range breakout: resistance level 130.50 at the lower border of the 1/2 Median Line channel of the Minuette operational scale; support level 130.20 on the initial SSL line of the Minuette operational scale pitchfork. Breakdown of the 130.20 support level on the initial SSL line of the Minuette operational scale pitchfork – continuation of the EUR / JPY downward movement towards the targets: – the final FSL line (129.80) of the Minute operational scale pitchfork; – local minimum 129.59; – control line LTL Minuette (129.45); – warning line LWL38.2 Minute (128.85). In case of breakdown of the resistance level of 130.50, the development of the EUR / JPY movement will continue in the 1/2 Median Line channel (130.50 – 130.80 – 131.15) of the Minuette operating scale pitchfork with the prospect of reaching the boundaries of the operational scale pitchfork equilibrium zones – Minute (131.65 – 132.25 – 132.85) and Minuette (132.25 – 132.70 – 133.30). ____________________ Great Britain Pound vs Japanese Yen The movement of GBP / JPY – h4 from July 15, 2021 will also be determined by the development and direction of the range breakout: resistance level 153.46 – local maximum; support level 153.10 – the final Shiff Line of the pitchfork operating scale Minute. Return of GBP / JPY below the final Shiff Line of the pitchfork Minute – breakout of the support level 153.10 – a variant of the resumption of the downward movement of this cross-instrument to the boundaries of the equilibrium zones of the pitchfork of the operational scale – Minuette (152.50 – 152.10 – 151.70) and Minute (151.95 – 151.00 – 150.05 ). If there is an update of the local maximum 153.46, then the development of the GBP / JPY upward movement towards the goals will become relevant: – the final FSL line (153.75) of the Minuette operational scale pitchfork; – local maximum 154.05; – the initial line of SSL (154.90) forks of the Minute operating scale; with the prospect that the price of the instrument will reach the boundaries of the 1/2 Median Line Minute channel (155.20 – 155.85 – 156.55). ____________________ The review is compiled without taking into account the news background, the opening of trading sessions of the main financial centers and is not a guide to action (placing “sell” or “buy” orders). More analytics on the InstaForex website. ZUP and Andrews’ Pitchfork (terms, concepts, parameters). Materials for studying Analysis of ZUP & APL`s. – Source: InstaForex

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