Murrey Math Lines 07.09.2022 (USDJPY, USDCAD)

Article By RoboForex.com

USDJPY, “US Dollar vs Japanese Yen”

On H4, the quotes have reached the overbought area. We should expect a bounce off 8/8 and subsequent falling to the nearest support level of 7/8. The scenario can be cancelled by rising over the resistance level of +1/8, in which case growth will continue so that the quotes might reach +2/8.

On M15, the lower line of VoltyChannel is too far away from the current price, so falling can be signaled by just a bounce off 8/8 on H4.

USDCAD

The situation on the USDCAD chart is similar to that on the previous chart. On H4, the quotes have reached the overbought area. We expect a bounce off 8/8 and subsequent falling to the support level of 6/8. The scenario can be cancelled by rising over the resistance level of +1/8. This will push the price further upwards to +2/8.

On M15, the lower line of VoltyChannel is too far away from the current price, so falling can be signaled by just a bounce off 8/8 on H4.

Article By RoboForex.com

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