Murrey Math Lines 03.07.2019 (USDJPY, USDCAD)
USDJPY, “US Dollar vs. Japanese Yen”
In the H4 chart, the decline was stopped by 1/8 earlier, thus indicating a possible trend reverse. In this case, the price may break 2/8 and continue growing towards the resistance at 4/8. However, this scenario may be no longer valid if the price breaks 1/8. After that, the instrument may resume trading downwards to reach the support at 0/8.
In the M15 chart, the pair may break the upside line of the VoltyChannel indicator and, as a result, continue trading upwards.
USDCAD, “US Dollar vs Canadian Dollar”
In the H4 chart, USDCAD is consolidating. In this case, the pair is expected to grow to reach the resistance at 5/8. However, this scenario may no longer be valid if the price breaks 3/8. After that, the instrument may leave the range and continue falling towards 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.
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.