Murrey Math Lines: USDJPY, USDCAD
|USDJPY, “US Dollar vs. Japanese Yen”
In the H4 chart, USDJPY is expected to test the support at the 5/8 level. If the price rebounds from it, the instrument may continue falling to reach the 3/8 one.
In the H1 chart, the pair may test the resistance at the 5/8 level, rebound from it, and then continue trading towards the support at the 0/8 one.
USDCAD, “US Dollar vs Canadian Dollar”
As we can see in the H4 chart, USDCAD is trading inside the “overbought zone”. In this case, the price may break the +1/8 level and resume falling towards the 7/8 one.
The lines in the H4 and H1 charts are completely the same and confirm the scenario described above.
In the M15 chart, the pair may break the downside line of the VoltyChannel indicator and, as a result, continue moving downwards to reach 1.3122.
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