Murrey Math Lines 27.12.2017 (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 close to the 5/8 level. Right now, the price is expected to fall towards the 4/8 level.
At the H1 chart, the pair is trading below the 2/8 level and may continue moving downwards to reach the support at the 0/8 one. However, if the price breaks the 2/8 level, the instrument may test the 3/8 one.
At the M15 chart, the pair may break the downside line of the VoltyChannel indicator and, as a result, move downwards to reach 112.50.
USD CAD, “US Dollar vs Canadian Dollar”
As we can see at the H4 chart, the USD/CAD pair has reached the target at the support at the 0/8 level, just as expected. At the moment, the price is expected to test the -1/8 level.
At the H1 chart, the price is trading inside the “oversold zone”. The pair is expected to test the -2/8 level. However, if the instrument breaks the 0/8 level, it may resume growing to reach the resistance at the 3/8 one.
As we can see at the M15 chart, the pair has broken the downside line of the VoltyChannel indicator and, as a result, may continue falling.
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.