Murrey Math Lines 24.06.2020 (USDJPY, USDCAD)
USDJPY, “US Dollar vs. Japanese Yen”
As we can see in the H4 chart, USDJPY has rebounded from 0/8. In this case, the price is expected to resume growing towards the resistance at 3/8. However, this scenario may no longer be valid if the price breaks 0/8 to the downside. After that, the instrument may continue trading downwards to reach the support at -2/8.
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 moving not far from 3/8. In this case, the pair is expected to break this level to the upside to return inside the consolidation range and continue growing towards the resistance at 5/8. However, this scenario may no longer be valid if the price breaks 2/8 to the downside. After that, the instrument may continue moving 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 downwards to reach 5/8 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.