Murray Math Lines: EUR/USD, USD/JPY
|EUR/USD
The EUR/USD on its H4-chart has completed a false brekout of the resistance level 8/8. Yet another attempt to reach the 8/8 level (1.1718) is expected. When this level is achieved, a rebound and downward move towards 5/8 (1.1535) is expected.
On the H1-chart price is standing at 1.1718 level, and this is a resistance level 8/8. This suggests a possible rebound from this level and subsequent downward move to 1.1535.
The M15-chart shows when price gets close to 1.1718, a breakout of the lower line of VoltyChannel indicator is possible, and this can lead to a downward move towards 1.1535.
USD/JPY
On the H4-period the USD/JPY pair has failed to hold inside the 3/8 - 5/8 channel, and this suggests a possible downward move towards the support level 8/8 (109.37).
On the M15-chart the lower line of VoltyChannel indicator has been broken, and this can trigger a further downward move from the current level towards 109.37.
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