Murrey Math Lines: USD/CAD, USD/JPY

USDCAD, “US Dollar vs Canadian Dollar”

As we can see at the H4 chart, the USD/CAD pair is trading inside the “overbought zone” above the 8/8 level at 1.2695. Earlier, the price already broke this level, but failed to continue moving downwards. At the moment, the instrument is expected to break the 8/8 level once again and resume falling to reach the 5/8 one at 1.2329.

USDCAD

At the H1 chart, the pair may test the 3/8 level at 1.2786, rebound from it, and then move downwards to reach 1.2329.

USDCAD

At the M15 chart, the pair may break the downside line of the VoltyChannel indicator and, as a result, continue falling towards 1.2329.

USDCAD

 

USDJPY, “US Dollar vs. Japanese Yen”

At the H4 chart, the USD/JPY pair is expected to test the 0/8 level at 112.50, rebound from it, and then resume growing towards the 3/8 one at 114.84.

USDJPY

As we can see at the H1 chart, the pair is trading inside the “oversold area” below the 0/8 level (113.28). After breaking it, the price may start moving upwards to reach the main target from the H4 chart at 114.84. In this case, the instrument is very unlikely to test 112.50.

USDJPY

At the M15 chart, the pair may break the upside line of the VoltyChannel indicator and, as a result, may continue growing to reach 114.84.

USDJPY

Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex LP bears no responsibility for trading results based on trading recommendations described in these analytical reviews.