Murray Math Lines 30.08.2011 (USD/JPY, EUR/JPY, USD/CAD)

Analysis for August 30^th, 2011

USD/JPY

The price didn’t succeed in breaking the daily Super Trend and went back to the previous levels. The indicator failed to make “Bullish Cross”. Taking into consideration the fact that the price rebounded from the 2/8 level, we can expect the descending trend to continue to the -2/8 level. After this level is broken, the lines will be redrawn.



At the H1 chart we can see that the price has left an overbought zone and Super Trends’ lines have formed “Bearish Cross”. Currently the correction is taking place, it started at the 4/8 level. In the near term, we can expect the price to continue falling down.

EUR/JPY

At the H4 chart the market rebounded from the 3/8 level and the daily Super Trend’s line, thus indicating that the price will start moving downwards again. Most likely the -2/8 level will be broken and the lines will be redrawn during the next several days.



At the H1 chart the market broke H4 Super Trend. It looks like the indicator’s lines are going to form “Bearish Cross”, thus indicating that down-trend will continue. Right now the target for bears is the 0/8 level.

USD/CAD

It looks like the price is trying to rebound from the 0/8 level and the daily Super Trend’s line, which may be a signal that up-trend will continue. If the price rebounds from the level, we can expect the price to break the +2/8 level this or next week. After that, the lines will be redrawn.



At the H1 chart the price rebounded from the 0/8 level and now is testing H4 Super Trend’s line. If the level is broken, bulls will get a good additional signal. The Super Trend’s lines forming “Bullish Cross” will be an excellent sign of the growth and a possible point of entry for conservative traders.