Murrey Math Lines 04.03.2020 (USDJPY, USDCAD)
USDJPY, “US Dollar vs. Japanese Yen”
In the H4 chart, USDJPY is moving below 3/8. In this case, the pair is expected to break 1/8 and then continue falling towards the support at 0/8. However, this scenario may no longer be valid if the price breaks 3/8 to the upside. After that, the instrument may continue trading upwards to reach the resistance 5/8.
As we can see in the M15 chart, the pair has broken the downside line of the VoltyChannel indicator and, as a result, may continue moving downwards.
USDCAD, “US Dollar vs Canadian Dollar”
As we can see in the H4 chart, the pair is moving below 7/8. In this case, USDCAD may continue falling to reach the support at 4/8. However, this scenario may no longer be valid if the price breaks 8/8 to the upside. After that, the instrument may continue growing towards the resistance at +2/8.
In the M15 chart, the pair may break the downside line of the VoltyChannel indicator and, as a result, continue moving downwards to reach 4/8 from the H4 chart.
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