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Murray Math Lines 01.02.2013 (GBP/CHF, CAD/JPY, USD/JPY)

01.02.2013

Analysis for February 1st, 2013

GBP/CHF

Currently a local correction is taking place, which is supported by the H4 Super Trend’s line. Most likely, the price will start moving downwards again in the nearest future. The main target for the bears is the 0/8 level.



At the H1 chart we can see that the sellers’ first attempt to keep the price inside an “oversold zone” failed. However, if the market rebounds from the Super Trend’s line, it may continue falling down. After the pair breaks the -2/8 level, the lines at the chart will be redrawn.



CAD/JPY

After a slight correction the pair continued moving upwards; the bulls are supported by the Super Trends’ lines. Most likely, in the nearest future the buyers will reach the 4/8 level.



At the H1 chart the market is just several tens of pips away from an “overbought zone”; the price may break the 8/8 level during Friday. If later the market breaks the +2/8 level, the lines at the chart will be redrawn.



USD/JPY

The USD/JPY currency pair started moving upwards again. On Thursday the price reached a new local maximum and now nothing will prevent the bulls from pushing it towards the 8/8 level. Later, this level may become a starting point of a correction



The price is already moving above the 5/8 level; the bulls are supported by the Super Trends’ lines. During the next several days the pair is expected to continue growing up towards the 8/8 level.



 
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