Murrey math lines: USD/JPY, USD/CAD

RoboForex Team RoboForex

USD/JPY, “US Dollar vs. Japanese Yen”

In the H4 chart, USDJPY is trading above the 200-day Moving Average, thus indicating an ascending tendency. In this case, the price is expected to break 7/8 and continue growing to reach the resistance at 8/8. However, this scenario may no longer be valid if the price breaks 6/8 to the downside. After that, the instrument may reverse and fall towards the support at 5/8.

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

USD/CAD, “US Dollar vs Canadian Dollar”

As we can see in the H4 chart, USDCAD is trading below the 200-ay Moving Average, thus indicating a descending tendency. In this case, the price is expected to test 5/8, break it, and then resume falling towards the support at 4/8. Still, this scenario may no longer be valid if the price breaks 6/8 to the upside. After that, the instrument may correct to reach the resistance at 7/8.

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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