Murrey math lines: USD/JPY, USD/CAD
|USD/JPY, “US Dollar vs Japanese Yen”
USD/JPY quotes and the RSI are in the overbought areas on D1. In this situation, the price is expected to test the +2/8 (156.25) level, rebound from it, and decline to the support at 0/8 (150.00). The scenario could be cancelled by rising above the +2/8 (156.25) level, which might reshuffle the Murrey indication, setting new price movement targets.
On M15, following a rebound from the +2/8 (156.25) level on D1, the price decline could be additionally supported by a breakout of the lower boundary of the VoltyChannel.
USD/CAD, “US Dollar vs Canadian Dollar”
The USD/CAD chart shows a similar situation, with the pair’s quotes and the RSI in the overbought areas on D1. In this situation, the quotes are expected to test the +2/8 (1.3916) level, rebound from it, and drop to the support at 0/8 (1.3671). The scenario could be cancelled by surpassing the +2/8 (1.3916) level, which might reshuffle the Murrey indication, setting new price movement targets.
On M15, following a rebound from the +2/8 (1.3916) level on D1, the price decline could be additionally supported by a breakout of the lower boundary of the VoltyChannel.
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