Murrey Math Lines 09.09.2020 (USDJPY, USDCAD)
USDJPY, “US Dollar vs. Japanese Yen”
On H4, the quotations escaped the overbought area and are trading under 8/8. Further decline to the support at 6/8 is expected. The scenario may be canceled by a breakaway of 8/8 upwards, which may send the quotations into another wave of growth to the resistance at +1/8.
On M15, the lower line of VoltyChannel is broken away. This indicates a downtrend and high probability of further decline of the price.
USDCAD, “US Dollar vs Canadian Dollar”
On H4, the quotations are trading in a consolidation range. We may expect further growth to the resistance at 5/8. The scenario might be canceled by a breakaway of 4/8 downwards, which will drag the quotations down to the support at 3/8.
On M15, the upper line of VoltyChannel is broken away, which increases the probability of further growth of the price.
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.