Murrey math lines: USD/JPY, USD/CAD

RoboForex Team RoboForex

USD/JPY, “US Dollar vs Japanese Yen”

USD/JPY quotes are in the overbought area on H4. The RSI has rebounded from the resistance line. In this situation, a breakout of 8/8 (150.00) is expected, followed by a decline to the support at 7/8 (148.43). The scenario could be cancelled by rising above +1/8 (151.56). In this case, the quotes might reach the resistance at +2/8 (153.12).

On M15, the lower boundary of the VoltyChannel is broken. This increases the probability of the price decline.

USD/CAD, “US Dollar vs Canadian Dollar”

USD/CAD quotes are above the 200-day Moving Average on H4, indicating the prevalence of an uptrend. The RSI has broken the resistance line. In this situation, the pair is expected to rise above 6/8 (1.3549), later reaching the resistance at 7/8 (1.3610). The scenario could be cancelled by a breakout of 5/8 (1.3488), in which case the pair might drop to the support at 4/8 (1.3427).

On M15, the upper boundary of the VoltyChannel is broken. This indicates the prevalence of an uptrend and increases the probability of a further price rise.

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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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