Murrey Math Lines: USD/JPY, USD/CAD
|USDJPY, “US Dollar vs. Japanese Yen”
As we can see at the H4 chart, the USD/JPY pair is trading above the 5/8 level at 110.15. later, the price is expected to continue growing towards the resistance at the 8/8 level at 112.50.
At the H1 chart, the price rebounded from the 5/8 level at 109.76 yesterday, which means that it may continue moving upwards to reach 112.50.
As we can see at the M15 chart, the pair has broken the upside line of the VoltyChannel indicator. As a result, the price may continue growing towards 112.50.
USDCAD, “US Dollar vs Canadian Dollar”
At the H4 chart, the USD/CAD pair is trading in the consolidating range between the 3/8 and 5/8 levels at 1.2085 and 1.2329 respectively. The price is expected to test the 3/8 level, break it, but then return to the above-mentioned range.
As we can see at the M15 chart, the pair has broken the downside line of the VoltyChannel indicator and, as a result, may move downwards to reach 1.2085.
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