Murrey Math Lines 22.09.2021 (USDJPY, USDCAD)
USDJPY, “US Dollar vs. Japanese Yen”
As we can see in the H4 chart, after breaking 0/8, USDJPY has left the “oversold area”. In this case, the price is expected to break 1/8 and then continue growing to reach the resistance at 2/8. However, this scenario may no longer be valid if the price breaks 0/8 to the downside. After that, the instrument may continue falling towards the support at -1/8.
In the M15 chart, the pair may break the upside line of the VoltyChannel indicator and, as a result, continue its growth.
USDCAD, “US Dollar vs Canadian Dollar”
As we can see in the H4 chart, USDCAD is trading above the 200-day Moving Average, thus indicating an ascending tendency. In this case, the price is expected to break 1/8 and continue growing towards the resistance at 2/8. Still, this scenario may no longer be valid if the price breaks 0/8 to the downside. After that, the instrument may reverse and trade downwards to reach the support at -1/8.
In the M15 chart, the pair may break the upside line of the VoltyChannel indicator and, as a result, continue trading upwards.
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.