Murrey Math Lines 23.11.2022 (USDJPY, USDCAD)

By RoboForex.com

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 has broken through the ascending trendline downwards. As a result, we should expect a test of 2/8 (140.62), a breakaway, and falling to the support level of 1/8 (139.06). The scenario can be cancelled by rising over the resistance level of 3/8 (142.18). In this case, the pair may rise to 4/8 (143.75).

On M15, a breakaway of the lower line of VoltyChannel will increase the probability of a decline.

USDCAD, “US Dollar vs Canadian Dollar”

The situation with the USDCAD pair is similar. On H4, the quotes are under the 200-day Moving Average, and the RSI has broken through the ascending trendline. A breakaway of 1/8 (1.3305) is expected, followed by falling to 0/8 (1.3183). The scenario can be cancelled by rising over the resistance level of 2/8 (1.3427). In this case, the pair may reach 3/8 (1.3549).

On M15, the lower line of VoltyChannel is broken away. This indicates a downtrend and a high probability of further falling.

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.