Murrey math lines: USD/JPY, USD/CAD
USD/JPY, “US Dollar vs Japanese Yen”
On H4, the quotes are under the 200-day Moving Average, which indicates prevalence of a downtrend. The RSI is testing the resistance line. Currently, we should expect a test of 0/8 (137.50), a breakthrough, and falling to the support level of -1/8 (135.93). The scenario can be cancelled by rising above the resistance level of 1/8 (139.06). In this case, the pair may rise to 3/8 (142.18).
On M15, a breakaway of the lower border of VoltyChannel will increase the probability of falling.
USD/CAD, “US Dollar vs Canadian Dollar”
On H4, the quotes have broken through the 200-day Moving Average and are now above it, which indicates possible development of an uptrend. However, the RSI has reached the overbought area. As a result, a downward breakaway of 3/8 (1.3549) is expected, followed by falling to the support level of 2/8 (1.3427). The scenario can be cancelled by rising over the resistance level of 4/8 (1.3671). In this case, the pair may rise to 5/8 (1.3793).
On M15, an additional signal confirming the decline will be a breakaway of the lower line of VoltyChannel.
Author
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.
