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Murrey Math Lines 20.06.2018 (USDJPY, USDCAD)

20.06.2018

USDJPY, “US Dollar vs. Japanese Yen”

In the H4 chart, USDJPY is expected to test the support at the 5/8 level. If the price rebounds from it, the instrument may continue falling to reach the 3/8 one.

USDJPY1
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

In the H1 chart, the pair may test the resistance at the 5/8 level, rebound from it, and then continue trading towards the support at the 0/8 one.

USDJPY2
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

 

USDCAD, “US Dollar vs Canadian Dollar”

As we can see in the H4 chart, USDCAD is trading inside the “overbought zone”. In this case, the price may break the 1/8 level and resume falling towards the 7/8 one.

USDCAD1
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

The lines in the H4 and H1 charts are completely the same and confirm the scenario described above.

USDCAD2
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 downside line of the VoltyChannel indicator and, as a result, continue moving downwards to reach 1.3122.

USDCAD3
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

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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