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Murrey Math Lines 16.09.2020 (USDJPY, USDCAD)

USDJPY, “US Dollar vs. Japanese Yen”

In the H4 chart, USDJPY is moving below the 200 Moving Average, thus indicating a descending tendency. In this case, the price is expected to continue falling towards the support at 0/8. However, this scenario may no longer be valid if the price breaks 2/8 to the upside. After that, the instrument may continue growing to reach the resistance at 3/8.

Murrey Math Lines 16.09.2020  USDJPY_H4
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, continue moving downwards to reach 0/8 from the H4 chart.

Murrey Math Lines 16.09.2020  USDJPY_M15
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 also moving below the 200 Moving Average to indicate a descending tendency. In this case, the pair is expected to continue falling towards the downside border of the consolidation range at 3/8. However, this scenario may no longer be valid if the price breaks 4/8 to the upside. After that, the instrument may continue moving upwards to reach the resistance at 5/8.

Murrey Math Lines 16.09.2020 USDCAD_H4
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 trading downwards.

Murrey Math Lines 16.09.2020  USDCAD_M15
Risk Warning: the result of previous trading operations do not guarantee the same results in the future


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