Murrey Math Lines 20.12.2017 (USD/JPY, USD/CAD)
USD JPY, “US Dollar vs. Japanese Yen”
As we can see at the H4 chart, the USD/JPY pair is consolidating between the 3/8 and 5/8 levels. The price is expected to reach the upside border of the range at the 5/8 level, rebound from it, and then resume falling towards the 3/8 one.
At the H1 chart, the pair may test the 2/8 level and then continue moving downwards to reach the support at the 0/8 one. However, if the price breaks the 1/8 level, the instrument may fall towards the support level without testing the 2/8 one.
As we can see at the M15 chart, the pair has broken the upside line of the VoltyChannel indicator and, as a result, may move upwards to reach 113.28.
USD CAD, “US Dollar vs Canadian Dollar”
As we can see at the H4 chart, the USD/CAD pair is testing the 3/8 level (1.2878). The price is expected to rebound from this level and move downwards and reach the support at the 0/8 one.
At the H1 chart, the price may break the 5/8 level and continue falling towards 1.2695.
At the M15 chart, the pair may break the downside line of the VoltyChannel indicator and, as a result, continue falling to reach the main target at 1.2695.
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.