Murrey Math Lines: AUD/USD, EUR/JPY
|AUDUSD, “Australian Dollar vs US Dollar”
As we can see at the H4 chart, the levels have been redrawn. As a result, the support at the 0/8 level moved higher, which means that the ascending tendency may continue and the first upside target for the AUD/USD pair is the 3/8 level at 0.8178.
At the H1 chart, there are three entry points. The first one is when the price rebounds from the support at the 4/8 level at 0.7873; The second one is when the price rebounds from the 3/8 level at 0.7858. The third one (in case the price doesn’t move downwards) is when the price breaks the 6/8 level at 0.7904.
EURJPY, “Euro vs. Japanese Yen”
As we can see at the H4 chart, yesterday the EUR/JPY pair failed to rebound from the 2/8 level at 128.90 and move upwards. Right now, the price may yet start growing from the support at the 0/8 level at 128.12 with the first upside target at the 3/8 one at 129.29. If the price breaks the 0/8 level, we should wait until the levels are redrawn and then make further decisions based on the new chart structure.
At the H1 chart, the price is also trading at the support at the 0/8 level at 128.12, which means that it may grow with the target at 129.29.
At the M15 chart, the pair may break the upside line of the VoltyChannel indicator and, as a result, continue moving upwards to reach 129.29.
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