Murrey Math Lines 13.02.2019 (USDJPY, USDCAD)
USDJPY, “US Dollar vs. Japanese Yen”
As we can see in the H4 chart, USDJPY is trading above the 5/8 level. In the future, the price may break the 7/8 level and continue growing towards the resistance at the 8/8 one.
In the H1 chart, the scenario is a bit different. The pair may rebound from the resistance at the 8/8 level and then resume falling to reach support at the 5/8 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 moving upwards. However, if the instrument breaks the downside line, it may reverse.
USDCAD, “US Dollar vs Canadian Dollar”
In the H4 chart, USDCAD is expected to rebound from the 0/8 level and resume growing towards the resistance at the 3/8 one.
The lines in the H4 and H1 charts are completely the same and confirm the scenario described above.
In the M15 chart, the pair may break the upside line of the VoltyChannel indicator and, as a result, continue moving upwards.
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.