Murrey Math Lines 09.05.2018 (USDJPY, USDCAD)
USDJPY, “US Dollar vs. Japanese Yen”
In the H4 chart, USDJPY is expected to test the resistance at the +1/8 level.
As we can see in the H1 chart, the pair is consolidating between the 3/8 and 5/8 levels. If the price breaks the 5/8 level, the instrument may resume growing towards the resistance at the 8/8 one.
As we can see in the M15 chart, the pair has broken the upside line of the VoltyChannel indicator and, as a result, may continue trading upwards.
USDCAD, “US Dollar vs Canadian Dollar”
In the H4 chart, USDCAD is expected to test the resistance at the 8/8 level.
As we can see in the H1 chart, the pair may break the 8/8 level and then continue falling to reach the support at the 5/8 one.
RoboForex Analytical Department
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.