Murrey Math Lines 25.05.2022 (USDJPY, USDCAD)

May 25, 2022

Article By RoboForex.com

USDJPY, “US Dollar vs. Japanese Yen”

In the H4 chart, after breaking the 200-day Moving Average, USDJPY is trading below it to indicate a possible descending tendency. In this case, the price is expected to break 1/8 and then continue falling to reach the support at 0/8. However, this scenario may no longer be valid if the price breaks the resistance at 2/8 to the upside. After that, the instrument may reverse and move towards 4/8.

USDJPYH4
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

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.

USDJPY_M15
Risk Warning: the result of previous trading operations do not guarantee the same results in the future


Free Reports:

Get our Weekly Commitment of Traders Reports - See where the biggest traders (Hedge Funds and Commercial Hedgers) are positioned in the futures markets on a weekly basis.





Sign Up for Our Stock Market Newsletter – Get updated on News, Charts & Rankings of Public Companies when you join our Stocks Newsletter





USDCAD, “US Dollar vs Canadian Dollar”

As we can see in the H4 chart, USDCAD is trading above the 200-day Moving Average, thus indicating an ascending tendency. In this case, the price may break 5/8 and then continue growing towards the resistance at 6/8. On the other hand, this scenario may no longer be valid if the pair breaks 4/8 to the downside. After that, the instrument may reverse and move downwards to reach the support at 3/8.

USDCAD_H4
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

In the M15 chart, the pair may break the upside line of the VoltyChannel indicator and, as a result, continue its growth.

USDCAD_M15

Article By RoboForex.com

Attention!
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.