Murrey Math Lines 27.11.2019 (USDJPY, USDCAD)
USDJPY, “US Dollar vs. Japanese Yen”
As we can see in the H4 chart, USDJPY is moving above 5/8. In this case, the price is expected to test the resistance at 8/8, rebound from it, and then resume falling to reach the support at 6/8. However, this scenario may no longer be valid if the price breaks 8/8 to the upside. After that, the instrument may start a new growth towards the resistance at +2/8.
In the M15 chart, the pair may break the downside line of the VoltyChannel indicator and, as a result, continue trading downwards.
USDCAD, “US Dollar vs Canadian Dollar”
As we can see in the H4 chart, USDCAD is moving above 5/8 as well. In this case, the pair is expected to break 6/8 and then continue growing to reach the resistance at 8/8. However, this scenario may no longer be valid if the price breaks the support at 5/8. After that, the instrument may continue falling towards 3/8.
In the M15 chart, the pair may break the upside line of the VoltyChannel indicator and, as a result, continue moving upwards to reach 8/8 from the H4 chart.
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.