Murrey Math Lines 15.04.2020 (USDJPY, USDCAD)
USDJPY, “US Dollar vs. Japanese Yen”
In the H4 chart, after breaking 5/8, USDJPY is consolidating. In this case, the price is expected to continue falling towards the support at 3/8. However, this scenario may no longer be valid if the price breaks 5/8 to the upside. After that, the instrument may continue trading upwards to reach the resistance at 6/8.
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”
In the H4 chart, the pair is moving below 1/8. In this case, USDCAD may is expected to continue falling towards the support at 0/8. However, this scenario may no longer be valid if the price breaks 1/8 to the upside. After that, the instrument may trade upwards to reach the resistance at 2/8.
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 trading downwards.
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