13 Jan

Murrey Math Lines 13.01.2021 (USDJPY, USDCAD)

January 13, 2021

USDJPY, “US Dollar vs. Japanese Yen”

In the H4 chart, after rebounding from 3/8, USDJPY is expected to break 1/8 and then continue falling towards the support at 0/8. However, this scenario may no longer be valid if the price breaks 2/8 to the upside. After that, the instrument may continue growing to reach the resistance at 3/8.

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.

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USDCAD, “US Dollar vs Canadian Dollar”

In the H4 chart, USDCAD is moving below the 200-day Moving Average, thus indicating a descending tendency. In this case, the pair is expected to break 0/8 and then continue falling towards the support at -1/8. Still, this scenario may no longer be valid if the price breaks 1/8 to the upside. After that, the instrument may reverse and correct 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 to reach -1/8 from the H4 chart.

Article By RoboForex.com

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Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex LP bears no responsibility for trading results based on trading recommendations described in these analytical reviews.

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Murrey Math Lines 13.01.2021 (USDJPY, USDCAD)