USD/JPY vs EUR/JPY vs GBP/JPY vs #USDX – H4. Comprehensive analysis of movement options for November 22, 2019. APLs &

Source: Forex Analysis

Let’s see what will happen with the movement of the currency of the “land of the rising sun” USD/JPY and its cross-instruments EUR/JPY and GBP/JPY, as well as the dollar index #USDX on November 22, 2019.

Minuette (H4 timeframe)

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US dollar Index

The dollar index continues to remain in the 1/2 Median Line channel (98.10 – 97.87 – 97.62) of the Minuette operational scale forks, respectively, further development of the #USDX movement from November 22, 2019 will be due to the development and direction of the breakdown of the above levels. Look at the details of this movement on the animated chart.

The breakdown of the support level of 97.52 on the lower boundary of the 1/2 Median Line Minuette channel will determine the further development of the movement of the dollar index to the boundaries of the 1/2 Median Line channel (97.55 – 97.35 – 97.15) and the equilibrium zone (97.25 – 97.00 – 96.75) of the Minuette operational scale forks.

In case of consecutive breakdown of resistance levels:

-98.10(the upper boundary of the channel is the 1/2 Median Line Minuette);

-98.20(control line UTL of the Minuette operational scale forks); upward movement of the #USDX will continue to be confirmed to the local maximum 98.45 and the lower boundary of ISL38.2 (98.55) of the equilibrium zone of the Minuette operational scale forks.

The markup of #USDX movement options on November 22, 2019 is shown on the animated chart.

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US dollar vs Japanese yen

The currency of the country of the rising sun is also located in the 1/2 Median Line channel of the Minuette operational scale forks, so further development of the USD / JPY movement on November 22, 2019 will be determined by the development and direction of the breakdown of the boundaries of the levels (108.90 – 108.63 – 108.35) of this channel. Look at the animated chart for the movement details.

The breakdown of the lower boundary of the 1/2 Median Line Minuette channel (108.35) with the subsequent update of the local minimum 108.25 will determine the continuation of development of the downward movement of the currency of the “land of the rising sun” to the boundaries of the equilibrium zone (107.90 – 107.50 – 107.10) of the Minuette operational scale forks.

Combined breakdown of resistance levels :

– 108.90 at the upper boundary of the 1/2 Median Line Minuette channel;

– 109.00 on the lower boundary of the 1/2 Median Line Minuette channel;

will determine the development of the USD/JPY movement within the 1/2 Median Line channel (109.00 – 109.15 – 109.33) of the Minuette operational scale forks with the prospect of updating the local maximum 109.50 .

The movement details of USD/JPY, depending on the direction of the breakdown of above 1/2 Median Line Minuette channel, are shown on the animated chart.

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Euro vs Japanese yen

The development of the cross-instrument movement EUR/JPY on October 22, 2019 will be determined by the development and direction of the breakdown of the boundaries of the equilibrium zone (120.00 – 120.22 – 120.45) of the Minuette operational scale forks. The details are shown on the animated chart.

At the same time, a combined breakdown of the upper boundary of ISL61.8 (resistance level of 120.45) equilibrium zone of the Minuette operational scale forks and the start line SSL (120.60) of the Minuette operational scale forks, will confirm the development of the movement of EUR/JPY in the 1/2 Median Line Minuette channel (120.45 – 120.95 – 121.40) with the prospect of updating the local maximum 121.45.

On the contrary, the breakdown of the lower boundary of ISL38.2 ( support level of 120.00) of the equilibrium zone of the Minuette operational scale forks will make it urgent to develop the downward movement of this cross-instrument to the boundaries of the 1/2 Median Line Minuette channel (119.45 – 119.30 – 119.10) with the prospect of reaching the upper boundary of ISL38.2 (118.75) equilibrium zones of the Minuette operational scale forks.

The details of the EUR/JPY movement, depending on the development of the boundaries of this equilibrium zone, are presented on the animated chart.

analytics5dd6b7fdd6937.jpg

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Great Britain pound vs Japanese yen

Meanwhile, the development of the GBP / JPY cross-instrument movement on November 22, 2019 will be determined by the direction of the breakdown of the range:

  • resistance level of 140.75 at the lower boundary of the 1/2 Median Line Minuette channel;
  • support level of 140.45 at the upper boundary of ISL61.8 equilibrium zone of the Minuette operational scale forks

The breakdown of the resistance level of 140.75 is the development of the GBP/JPY movement in the 1/2 Median Line channel (140.75 – 140.97 – 141.20) of the Minuette operational scale forks with the prospect of updating maximum 141.53 and reaching the SSL start line (141.85) of the Minuette operational scale forks.

However, a return below ISL61.8 Minuette (support level of 140.45) will determine the development of the movement of this cross-instrument in the equilibrium zone (140.45 – 140.10 – 139.85) of the Minuette operational scale forks.But in case that there will be a breakdown of ISL38.2 Minuette (139.85), then the downward movement of GBP/JPY can be continued to the local minimum 139.32 and the final line FSL Minuette (138.85).

The details of the GBP/JPY movement, depending on the direction of the breakdown of above equilibrium zone, are shown on the animated chart.

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The review is made without taking into account the news background. Thus, 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:

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

where the power coefficients correspond to the weights of the 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 leads the index to 100 at the start date of the countdown – 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