Murrey Math Lines 01.02.2023 (USDJPY, USDCAD)

February 1, 2023

By RoboForex.com

USDJPY, “US Dollar vs Japanese Yen”

On H4, the quotes are under the 200-day Moving Average, which indicates prevalence of a downtrend. The RSI has bounced off the resistance line. As a result, 3/8 (129.68) is expected to be broken away, after which the quotes should fall to the support level of 2/8 (128.12). The scenario can be cancelled by rising over the resistance level of 4/8 (131.25), which might lead to a trend reversal and growth to 5/8 (132.81).

AUDUSD_H4
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

On M15, a new breakaway of the lower border of VoltyChannel will increase the probability of further decline of the price.

AUDUSD_M15
Risk Warning: the result of previous trading operations do not guarantee the same results in the future


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USDCAD, “US Dollar vs Canadian Dollar”

On H4, the quotes are under the 200-day Moving Average, which indicates prevalence of a downtrend. The RSI has bounced off the support line. As a result, we should expect a downward breakaway of 2/8 (1.3305) and further falling to the support level of 0/8 (1.3183). The scenario can be cancelled by rising above 3/8 (1.3366), after which the pair may rise to 4/8 (1.3427).

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

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

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.