Murrey math lines: USD/JPY, USD/CAD

RoboForex Team RoboForex

USD/JPY, “US Dollar vs Japanese Yen”

USD/JPY quotes and the RSI remain in the overbought areas on D1. In this situation, the price is expected to test the +2/8 (156.25) level, rebound from it, and decline to the support at 0/8 (150.00). The scenario could be cancelled by surpassing the +2/8 (156.25) level, which might reshuffle the Murrey indication, setting new price movement targets.

On M15, following a rebound from the +2/8 (156.25) level on D1, the price decline could be additionally confirmed by a breakout of the lower line of the VoltyChannel.

USD/CAD, “US Dollar vs Canadian Dollar”

USD/CAD quotes have breached the 8/8 (1.3671) level and exited the overbought area on D1. The RSI has broken below the support line. In this situation, the price is expected to maintain its downward trajectory towards 6/8 (1.3427). The scenario could be cancelled by rising above the 8/8 (1.3671) level. In this case, the pair might resume growth, with the quotes returning to the +1/8 (1.3793) resistance level.

On M15, the lower line of the VoltyChannel is broken, which increases the probability of a price decline.

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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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