Murrey math lines: USD/JPY, USD/CAD

RoboForex Team RoboForex

USD/JPY, “US Dollar vs. Japanese Yen”

In the H4 chart, USDJPY is moving between 3/8 and 5/8. In this case, the price is expected to break 3/8 and continue falling towards the support at 2/8. However, this scenario may no longer be valid if the price breaks 5/8 to the upside. After that, the instrument may continue trading upwards to reach the resistance at 7/8.

As we can see in the M15 chart, the pair has broken the downside line of the VoltyChannel indicator and, as a result, may continue moving downwards.

USD/CAD, “US Dollar vs Canadian Dollar”

As we can see in the H4 chart, USDCAD is also consolidating. In this case, the pair is expected to rebound from 3/8 and resume growing towards the resistance at 5/8. However, this scenario may no longer be valid if the price breaks 3/8 to the downside. After that, the instrument may continue moving downwards to reach the support at 2/8.

In the M15 chart, the pair may break the upside line of the VoltyChannel indicator and, as a result, continue trading upwards to reach 5/8 from the H4 chart.

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RoboForex Team

RoboForex

RoboForex Team is a group of professional financial experts with high experience on financial market, whose main purpose is to provide traders with quality and up-to-date market information.

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