Murrey Math Lines 19.12.2018 (USDJPY, USDCAD)
USDJPY, “US Dollar vs. Japanese Yen”
As we can see in the H4 chart, USDJPY is trading inside the “oversold zone”. In this case, the price may break the 0/8 level and continue 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.
USDCAD, “US Dollar vs Canadian Dollar”
As we can see in the H4 chart, USDCAD is trading inside the “overbought zone”. In the future, the price may break the 8/8 level and continue falling towards the support at the 5/8 one.
In the H1 chart, the price is consolidating. In this case, the pair may continue trading downwards to reach the first target at the 3/8 level.
In the M15 chart, the pair may break the downside line of the VoltyChannel indicator and, as a result, continue trading downwards.
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.