Murrey math lines: USD/JPY, USD/CAD
|USD/JPY, “US Dollar vs Japanese Yen”
On H4, the quotes are under the 200-day Moving Average, which indicates the prevalence of a downtrend. The RSI has broken through the ascending trendline downwards. As a result, we should expect a test of 2/8 (140.62), a breakaway, and falling to the support level of 1/8 (139.06). The scenario can be cancelled by rising over the resistance level of 3/8 (142.18). In this case, the pair may rise to 4/8 (143.75).
On M15, a breakaway of the lower line of VoltyChannel will increase the probability of a decline.
USD/CAD, “US Dollar vs Canadian Dollar”
The situation with the USDCAD pair is similar. On H4, the quotes are under the 200-day Moving Average, and the RSI has broken through the ascending trendline. A breakaway of 1/8 (1.3305) is expected, followed by falling to 0/8 (1.3183). The scenario can be cancelled by rising over the resistance level of 2/8 (1.3427). In this case, the pair may reach 3/8 (1.3549).
On M15, the lower line of VoltyChannel is broken away. This indicates a downtrend and a high probability of further falling.
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