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Murrey Math Lines 15.04.2020 (USDJPY, USDCAD)

15.04.2020

USDJPY, “US Dollar vs. Japanese Yen”

In the H4 chart, after breaking 5/8, USDJPY is consolidating. In this case, the price is expected to continue falling towards the support at 3/8. However, this scenario may no longer be valid if the price breaks 5/8 to the upside. After that, the instrument may continue trading upwards to reach the resistance at 6/8.

USDJPY_H4 april 15
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

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

USDJPY_M15 april 15
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDCAD, “US Dollar vs Canadian Dollar”

In the H4 chart, the pair is moving below 1/8. In this case, USDCAD may is expected to continue falling towards the support at 0/8. However, this scenario may no longer be valid if the price breaks 1/8 to the upside. After that, the instrument may trade upwards to reach the resistance at 2/8.

USDCAD_H4 april 15
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

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

USDCAD_M15 april 15
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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