Murrey Math Lines 15.07.2020 (USDJPY, USDCAD)
USDJPY, “US Dollar vs. Japanese Yen”
As we can see in the H4 chart, after rebounding from 3/8, USDJPY is expected to resume falling towards the support at 1/8. 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 closest resistance at 5/8.
In the M15 chart, the pair may break the downside line of the VoltyChannel indicator and, as a result, continue moving downwards.
USDCAD, “US Dollar vs Canadian Dollar”
As we can see in the H4 chart, after rebounding from 3/8, USDCAD is consolidating between 3/8 and 5/8. In this case, the pair is expected to resume growing towards the resistance at 4/8. However, this scenario may no longer be valid if the price breaks 3/8 to the downside. After that, the instrument may continue moving downwards to reach the support at 2/8.
In the M15 chart, the pair may break the upside line of the VoltyChannel indicator and, as a result, may continue trading upwards to reach 4/8 from the H4 chart.
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