Murrey math lines: USD/JPY, USD/CAD

RoboForex Team RoboForex

USD/JPY, “US Dollar vs. Japanese Yen”

In the H4 chart, USDJPY is consolidating above 4/8. In this case, the price is expected to continue growing to break 5/8 and then reach the resistance at 6/8. However, this scenario may no longer be valid if the price breaks 4/8 to the downside. After that, the instrument may continue falling to reach the closest support at 3/8.

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

USD/CAD, “US Dollar vs Canadian Dollar”

As we can see in the H4 chart, USDCAD is moving below 3/8. In this case, the pair is expected to test this level, rebound from it, and then resume falling towards the support at 1/8. However, this scenario may no longer be valid if the price breaks 3/8 to the upside. After that, the instrument may continue moving upwards to reach the resistance at 4/8.

In the M15 chart, the pair may break the downside line of the VoltyChannel indicator and, as a result, continue trading downwards.

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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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