Murrey math lines: USD/JPY, USD/CAD

RoboForex Team RoboForex

USD/JPY, “US Dollar vs Japanese Yen”

On H4, the quotes are under the 200-day Moving Average, which implies a downtrend. The RSI is nearing the resistance line. A test of 3/8 (129.68) is expected, followed by a breakaway and falling to the support level of 2/8 (128.12). The scenario can be cancelled by rising over the resistance level of 4/8 (131.25). In this case, the pair may climb up to 5/8 (132.81).

On M15, a breakaway of the lower line of VoltyChannel will increase the probability of further falling of the price.

USD/CAD, “US Dollar vs Canadian Dollar”

On H4, the quotes are also under the 200-day Moving Average, which indicates prevalence of a downtrend. The RSI has bounced off the resistance line. Here a downward breakaway of 2/8 (1.3305) should be expected, followed by falling to the support level of 1/8 (1.3244). The scenario can be cancelled by rising over the resistance level of 3/8 (1.3366). This might make the pair grow to 4/8 (1.3427).

On M15, falling of the pair can additionally be supported by a breakaway of the lower border of VoltyChannel.

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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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