Murrey Math Lines 09.05.2018 (USDJPY, USDCAD)
USDJPY, “US Dollar vs. Japanese Yen”
In the H4 chart, USDJPY is expected to test the resistance at the +1/8 level.
As we can see in the H1 chart, the pair is consolidating between the 3/8 and 5/8 levels. If the price breaks the 5/8 level, the instrument may resume growing towards the resistance at the 8/8 one.
As we can see in the M15 chart, the pair has broken the upside line of the VoltyChannel indicator and, as a result, may continue trading upwards.
USDCAD, “US Dollar vs Canadian Dollar”
In the H4 chart, USDCAD is expected to test the resistance at the 8/8 level.
As we can see in the H1 chart, the pair may break the 8/8 level and then continue falling to reach the support at the 5/8 one.
RoboMarkets Analytical Department
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboMarkets bears no responsibility for trading results based on trading opinions described in these analytical reviews.
The material presented and the information contained herein is intended for our customers, and is for information purposes only and in no way should be considered as the provision of investment advice for the purposes of Investment Firms Law L. 87(I)/2017 of the Republic of Cyprus or any other form of personal advice or recommendation, which relates to certain types of transactions with certain types of financial instruments.