Murrey Math Lines 18.09.2019 (USDJPY, USDCAD)
USDJPY, “US Dollar vs. Japanese Yen”
In the H4 chart, USDJPY is moving above 5/8. In this case, the price is expected to continue growing to reach the resistance at 8/8. However, this scenario may no longer be valid if the price breaks 6/8. After that, the instrument may start a new decline towards the support at 5/8.
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”
As we can see in the H4 chart, USDCAD is no longer moving inside the “oversold area”. In this case, the pair is expected to grow to reach the resistance at 3/8. However, this scenario may no longer be valid if the price breaks 1/8. After that, the instrument may continue falling towards the support at 0/8.
In the M15 chart, the pair may break the upside line of the VoltyChannel indicator and, as a result, grow towards 3/8 from the H4 chart.
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