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Murrey Math Lines 13.12.2017 (USD/JPY, USD/CAD)

13.12.2017

USD JPY, “US Dollar vs. Japanese Yen”

As we can see at the H4 chart, the USD/JPY pair is trading near the 5/8 level (113.28). If the price fixes below this level, the instrument may continue falling towards the 3/8 one (111.71).

USDJPY1

At the H1 chart, the pair may break the 6/8 level (113.28) and continue moving downwards to reach the 5/8 one where it is expected to start a new correction, which may later у followed by further decline.

USDJPY2

As we can see at the M15 chart, the pair has broken the downside line of the VoltyChannel indicator and, as a result, may continue falling.

USDJPY3

 

USD CAD, “US Dollar vs Canadian Dollar”

As we can see at the H4 chart, the USD/CAD pair hasn’t been able to break the 3/8 level (1.2878). In this case, the price is expected move downwards and reach the support at the 0/8 level (1.2695).

USDCAD1

The lines at the H4 and H1 charts are completely the same, so they confirm the scenario described above, according to which the price may fall towards the support at the 0/8 level (1.2695). Possibly, the pair may test the 3/8 level (1.2878) again.

USDCAD2

At the M15 chart, the pair may break the downside line of the VoltyChannel indicator and, as a result, continue falling to reach the main target at 1.2695.

USDCAD3

 

RoboForex Analytical Department

 

Attention!

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



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