Murrey math lines: USD/JPY, USD/CAD

RoboForex Team RoboForex

USD/JPY, “US Dollar vs Japanese Yen”

USD/JPY quotes and the RSI on H4 are nearing the overbought area. In this situation, a test of 8/8 (150.00) is expected, followed by a rebound from this level and a decline to the support at 6/8 (148.43). The scenario can be cancelled by rising above 8/8 (150.00). In this case, the quotes could continue growing and reach the resistance at +1/8 (150.78).

On M15, after a rebound from 8/8 (150.00), an additional signal confirming the decline could be a breakout of the lower boundary of the VoltyChannel.

USD/CAD, “US Dollar vs Canadian Dollar”

USD/CAD quotes have rebounded from 8/8 (1.3671) on H4. The RSI has rebounded from the resistance line. In this situation, a downward breakout of 7/8 (1.3610) is expected, followed by a price drop to the support at 5/8 (1.3488). The scenario can be cancelled by rising above 8/8 (1.3671). In this case, the pair could reach the resistance level of +1/8 (1.3732).

On M15, a breakout of the lower boundary of the VoltyChannel could increase the probability of a price decline.

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RoboForex Team

RoboForex

RoboForex Team is a group of professional financial experts with high experience on financial market, whose main purpose is to provide traders with quality and up-to-date market information.

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