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Murrey Math Lines 23.12.2020 (USDJPY, USDCAD)

USDJPY, “US Dollar vs. Japanese Yen”

As we can see in the H4 chart, USDJPY is moving below the 200-day Moving Average, thus indicating a possible descending tendency. At the moment, the asset is breaking 1/8 and that’s another signal in favor of further decline towards the support at -1/8. However, this scenario may no longer be valid if the price breaks 1/8 to the upside. After that, the instrument may continue growing to reach the resistance at 3/8.

Murrey Math Lines 23.12.2020  USDJPY_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 moving downwards to reach -1/8 from the H4 chart.

Murrey Math Lines 23.12.2020  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”

As we can see in the H4 chart, USDCAD is moving below the 200-day Moving Average, thus indicating a descending tendency. In this case, the pair is expected to break 3/8 and then continue falling towards the support at 1/8. Still, this scenario may no longer be valid if the price breaks 4/8 to the upside. After that, the instrument may reverse and grow to reach 5/8.

Murrey Math Lines 23.12.2020 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 beak the downside line of the VoltyChannel indicator and, as a result, continue trading downwards.

Murrey Math Lines 23.12.2020 USDCAD_M15
Risk Warning: the result of previous trading operations do not guarantee the same results in the future


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