Murrey math lines: USD/JPY, USD/CAD
|USD/JPY, "US Dollar vs Japanese Yen"
On H4, the quotations are trading above the 200-days Moving Average, indicating an uptrend. We currently expect a test of 4/8, a bounce off this level, and further growth to the resistance at 5/8. The scenario can be canceled by a bounce off 4/8 downwards. In this case, the quotations might keep correcting and drop to 3/8.
On M15, a breakaway of the upper border of VoltyChannel will be an additional signal of further price growth.
USD/CAD, "US Dollar vs Canadian Dollar"
On H4, the quotations bounced off the supp5/8ort at and headed upwards, overcoming the resistance at 6/8. This means a probability of further growth to 7/8. The scenario can be canceled by a breakaway of the support on 6/8 downwards. In this case, the quotations will start falling again, and the price might get back to the level 5/8.
On M15, the upper border of VoltyChannel is broken away which increases the chances for growth to 7/8 on H4.
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