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Murrey Math Lines 09.12.2020 (USDJPY, USDCAD)

USDJPY, “US Dollar vs Japanese Yen”

On H4, the quotations are trading under the 200-days Moving Average, revealing a downtrend. We expect a breakaway of 2/8, followed by a decline to the support at 1/8. The scenario might be canceled by a breakaway of 3/8 bottom-up. This might send the price to the resistance level at 4/8.

Murrey Math Lines 09.12.2020 USDJPY_H4
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

On M15, a breakaway of the lower border of the VoltyChannel indicator can support the decline of the price.

Murrey Math Lines 09.12.2020 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”

On H4, the quotations are also trading under the 200-days Moving Average, revealing a downtrend. The price has just broken through 1/8 and secured below this level. As a result, we expect further falling to the support level of 0/8. The scenario might be canceled by a breakaway of 1/8 bottom-up, which will drive the price to the resistance level of 2/8.

Murrey Math Lines 09.12.2020 USDCAD_H4
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

On M15, a breakaway of the lower border of VoltyChannel can increase the probability of the decline of the price.

Murrey Math Lines 09.12.2020 USDCAD_M15
Risk Warning: the result of previous trading operations do not guarantee the same results in the future


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