Murrey Math Lines 21.12.2022 (USDJPY, USDCAD)
USDJPY, “US Dollar vs Japanese Yen”
On H4, the quotes are under the 200-day Moving Average, which indicates the prevalence of a downtrend. The RSI is testing the resistance line. A downward breakaway of 2/8 (131.25) is expected, followed by falling to the support level of 1/8 (128.12). The scenario can be cancelled by rising over the resistance level of 3/8 (134.37). In this case, the pair may rise to 4/8 (137.50).
On M15, the lower line of VoltyChannel is broken away. This indicates prevalence of a downtrend and a high probability of further price falling.
USDCAD, “US Dollar vs Canadian Dollar”
On H4, the quotes are above the 200-day Moving Average, indicating prevalence of an uptrend. The RSI is testing the support line. The quotes are expected to rise over 8/8 (1.3671) and reach the resistance level of +1/8 (1.3793). The scenario can be cancelled by a downward breakaway of 7/8 (1.3549), which might lead to a trend reversal and falling to 6/8 (1.3427).
On M15, an additional signal confirming the growth will be a breakaway of the upper border of VoltyChannel.
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