Murrey Math Lines: USD/CAD, USD/JPY
|USDCAD, “US Dollar vs Canadian Dollar”
As we can see at the H4 chart, the USD/CAD pair is trading inside the “overbought zone” above the 8/8 level at 1.2695. Earlier, the price already broke this level, but failed to continue moving downwards. At the moment, the instrument is expected to break the 8/8 level once again and resume falling to reach the 5/8 one at 1.2329.
At the H1 chart, the pair may test the 3/8 level at 1.2786, rebound from it, and then move downwards to reach 1.2329.
At the M15 chart, the pair may break the downside line of the VoltyChannel indicator and, as a result, continue falling towards 1.2329.
USDJPY, “US Dollar vs. Japanese Yen”
At the H4 chart, the USD/JPY pair is expected to test the 0/8 level at 112.50, rebound from it, and then resume growing towards the 3/8 one at 114.84.
As we can see at the H1 chart, the pair is trading inside the “oversold area” below the 0/8 level (113.28). After breaking it, the price may start moving upwards to reach the main target from the H4 chart at 114.84. In this case, the instrument is very unlikely to test 112.50.
At the M15 chart, the pair may break the upside line of the VoltyChannel indicator and, as a result, may continue growing to reach 114.84.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.