Murrey math lines: USD/JPY, USD/CAD
|USD/JPY, “US Dollar vs Japanese Yen”
On H4, the quotes are under the 200-day Moving Average, revealing the prevalence of a downtrend. The RSI is nearing the resistance line. As a result, we expect a test of 4/8 (131.25). Then it should break, and the price should fall to the support at 3/8 (129.68). The scenario can be canceled by an upward breakaway of the resistance at 5/8 (132.81). In this case, the pair might rise to 6/8 (134.37).
On M15, a breakaway of the lower line of the VoltyChannel indicator will increase the probability of further falling of the price.
USD/CAD, “US Dollar vs Canadian Dollar”
On H4, USDCAD quotes remain in the overbought area. The RSI has pushed off the resistance line. As a result, we should expect a downward breakaway of 8/8 (1.3671) and further falling of the price to the support level of 7/8 (1.3549). The scenario can be canceled by an upward breakaway of the resistance at +1/8 (1.3793). In this case, the quotes might rise to +2/8 (1.3916).
On M15, a further decline of the price can be additionally supported by a breakaway of the lower border of VoltyChannel.
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