Murrey Math Lines 06.06.2018 (USDJPY, USDCAD)
USDJPY, “US Dollar vs. Japanese Yen”
As we can see in the H4 chart, USDJPY is consolidating between the 3/8 and 5/8 levels. The price is expected to test the 5/8 level, rebound from it, and then resume falling to reach the support at the 3/8 one.
In the H1 chart, the pair is testing inside the “overbought zone”. If the price breaks the +1/8 level, the instrument may start a new decline to reach the support at the 6/8 one.
In the M15 chart, the pair may break the downside line of the VoltyChannel indicator and, as a result, continue trading to the downside.
USDCAD, “US Dollar vs Canadian Dollar”
In the H4 chart, USDCAD is expected to fall towards test the support at the 0/8 level.
In the H1 chart, the pair may break the 3/8 level and then continue trading towards the support at the 0/8 one.
As we can see in the M15 chart, the pair has broken the downside line of the VoltyChannel indicator and, as a result, may continue moving downwards.
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.