Murrey Math Lines 18.04.2018 (USDJPY, USDCAD)
USDJPY, “US Dollar vs. Japanese Yen”
In the H4 chart, USDJPY is trading inside the “overbought zone” above the 8/8 level. If the price breaks the +1/8 level, the instrument may continue falling towards the 8/8 one.
As we can see in the H1 chart, the pair has broken the 5/8 level and is no longer consolidating. Later, the price is expected to move upwards to reach 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 to the upside.
USDCAD, “US Dollar vs Canadian Dollar”
In the H4 chart, USDCAD is trading inside the “oversold zone”. If the price breaks the -1/8 level, it may grow to reach the 0/8 one.
As we can see in the M15 chart, the pair may break the upside line of the VoltyChannel indicator and, as a result, continue trading upwards to reach 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.