Minute operational scale (H4)
The current situation on the interaction of the main currency pairs with each other - options for the development of the movement of EUR/JPY & GBP/JPY (H4) on August 27, 2020.
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Euro vs Japanese yen
The development of the movement of the EUR/JPY currency pair will continue from August 27, 2020, depending on the development and direction of the breakdown of the 1/2 Median Line channel boundaries (125.35 - 125.65 - 125.95) of the Minuette operational scale fork - the markings of the movement within this channel are shown in the animated chart.
Breakdown of the lower border of the channel 1/2 Median Line Minuette - support level of 125.35 - option to continue the downward movement of EUR/JPY to the borders of the channel 1/2 Median Line Minute (125.00 - 124.35 - 123.70) with the prospect of reaching the upper limit of ISL38.2 (122.70) of the equilibrium zone of the Minute operational scale fork.
If the resistance level of 125.95 breaks at the upper border of the channel 1/2 Median Line Minuette (125.95), the upward movement of EUR/JPY will be directed to the initial line SSL Minute (126.30) and the boundaries of the equilibrium zone (126.70 - 127.20 - 127.70) of the Minuette operational scale fork.
We look at the EUR/JPY movement options from August 27, 2020 on an animated chart.
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Great Britain pound vs Japanese yen
The movement of the GBP/JPY currency pair from August 27, 2020 will develop depending on the development and direction of the breakdown of the 1/2 Median Line channel boundaries (139.80 - 140.18 - 140.55) and equilibrium zones (140.18 - 140.55 - 141.00) of the Minuette operational scale fork - the markup of the development of the specified levels is shown on the animated chart.
A breakdown of the lower border of the channel 1/2 Median Line Minuette - support level of 139.80 - will direct the downward movement of GBP/JPY to the goals:
- initial line SSL Minuette (139.00);
- LTL Minuette control line (138.80);
- local minimum 138.23.
- with the prospect of reaching the boundaries of the 1/2 Median Line channel (137.20 - 136.25 - 135.30) of the Minute operational scale fork.
If the upper limit of ISL61.8 of the balance zone of the of the Minuette operational scale fork is broken - resistance level of 141.00, the upward movement of this cross-tool will continue to the goals:
- warning line UWL38.2 Minute (141.50);
- ultimate line FSL Minuette (142.30);
- UTL Minuette control line (143.05).
Details of the development of the GBP/JPY movement from August 27, 2020 are shown on the animated chart.
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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).
The material has been provided by InstaForex Company - www.instaforex.com