Murrey Math Lines 10.01.2018 (USD/JPY, USD/CAD)
USD JPY, “US Dollar vs. Japanese Yen”
As we can see at the H4 chart, the USD/JPY pair is consolidating between the 3/8 and 5/8 levels. Right now, the price is expected to test the downside border at the 3/8 level, rebound from it, and then resume growing to reach the resistance at the 5/8 one.
At the H1 chart, the pair may test the 1/8 level, rebound from it, and then resume moving upwards to reach the 6/8 one.
USD CAD, “US Dollar vs Canadian Dollar”
As we can see at the H4 chart, the USD/CAD pair has broken the 6/8 level and right now is expected to continue growing towards the 7/8 one.
At the H1 chart, the pair is consolidating. The price is expected to grow towards the 5/8 level. After reaching it, the instrument may break it and then continue growing towards the resistance at the 8/8 one.
As we can see at the M15 chart, the pair has broken the upside line of the VoltyChannel indicator and, as a result, may continue moving upwards to reach 1.2573.
RoboForex Analytical Department
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.