Murrey Math Lines 25.01.2023 (USDJPY, USDCAD)

USDJPY, “US Dollar vs Japanese Yen”

On H4, the quotes are under the 200-day Moving Average, which implies a downtrend. The RSI is nearing the resistance line. A test of 3/8 (129.68) is expected, followed by a breakaway and falling to the support level of 2/8 (128.12). The scenario can be cancelled by rising over the resistance level of 4/8 (131.25). In this case, the pair may climb up to 5/8 (132.81).



Risk Warning: the result of previous trading operations do not guarantee the same results in the future

On M15, a breakaway of the lower line of VoltyChannel will increase the probability of further falling of the price.

USDJPY_M15

Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDCAD, “US Dollar vs Canadian Dollar”

On H4, the quotes are also under the 200-day Moving Average, which indicates prevalence of a downtrend. The RSI has bounced off the resistance line. Here a downward breakaway of 2/8 (1.3305) should be expected, followed by falling to the support level of 1/8 (1.3244). The scenario can be cancelled by rising over the resistance level of 3/8 (1.3366). This might make the pair grow to 4/8 (1.3427).

USDCAD_H4

Risk Warning: the result of previous trading operations do not guarantee the same results in the future

On M15, falling of the pair can additionally be supported by a breakaway of the lower border of VoltyChannel.

USDCAD_M15

Risk Warning: the result of previous trading operations do not guarantee the same results in the future

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Source: RoboForex


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