Murrey Math Lines: USD/JPY, USD/CAD
|USD/JPY, “US Dollar vs. Japanese Yen”
As we can see in the H4 chart, USDJPY is no longer moving inside the “oversold area”; right now, it is trading above 0/8. In this case, the price may continue growing to reach the resistance at 3/8. However, this scenario may no longer be valid if the price breaks 0/8. After that, the instrument may start a new decline towards the support at -1/8.
In the M15 chart, the pair may break the upside line of the VoltyChannel indicator and, as a result, continue trading upwards.
USD/CAD, “US Dollar vs Canadian Dollar”
As we can see in the H4 chart, USDCAD is moving above 5/8. In this case, the pair is expected to continue growing to reach the resistance at 8/8. However, this scenario may no longer be valid if the price breaks 5/8. After that, the instrument may start a new descending structure towards the support at 3/8.
In the M15 chart, the pair may break the upside line of the VoltyChannel indicator and, as a result, continue growing towards 8/8 from the H4 chart.
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