Murrey math lines: USD/JPY, USD/CAD
|USD/JPY, “US Dollar vs Japanese Yen”
USD/JPY quotes are above the 200-day Moving Average on D1, indicating a prevailing uptrend. The RSI is testing the support line. In this situation, the price is expected to surpass the 6/8 (156.25) level and rise to the resistance at 7/8 (159.37). A breakout below the 5/8 (153.12) support level could cancel this scenario, leading to a potential decline to 4/8 (150.00).
On M15, the price rise might be additionally supported by a breakout of the VoltyChannel upper line.
USD/CAD, “US Dollar vs Canadian Dollar”
USD/CAD quotes are above the 200-day Moving Average on D1, indicating a prevailing uptrend. The RSI has rebounded from the support line. In this situation, the price is expected to rise further to the nearest resistance at +1/8 (1.3793). A breakout below the 7/8 (1.3549) level could cancel this scenario, leading to a potential decline to the 6/8 (1.3427) support level.
On M15, the upper line of the VoltyChannel is broken, which increases the probability of price growth.
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