Murrey Math Lines: USD/JPY, USD/CAD
|USD/JPY, “US Dollar vs. Japanese Yen”
In the H4 chart, USD/JPY is expected to test 6/8, rebound from it, and then resume falling towards the support at 4/8. However, USDJPY may avoid testing 6/8 because of a very serious “bearish” pressure. In this case, the price may break 5/8 and then continue trading downwards.
As we can see in the M15 chart, the pair has broken the downside line of the VoltyChannel indicator and, as a result, may continue trading downwards.
USD/CAD, “US Dollar vs Canadian Dollar”
In the H4 chart, the pair is moving above 5/8. In this case, USD/CAD may break 6/8 and then continue growing to reach the resistance at 7/8. However, this scenario may no longer be valid if the price breaks 5/8 to the downside. After that, the instrument may continue falling towards the support at 3/8.
As we can see in the M15 chart, the pair has broken the upside line of the VoltyChannel indicator and, as a result, may continue moving upwards to reach 7/8 from the H4 chart.
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