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Murrey Math Lines 28.04.2021 (USDJPY, USDCAD)

USDJPY, “US Dollar vs. Japanese Yen”

In the H4 chart, after breaking the 200-day Moving Average, USDJPY is trading above it, thus indicating a possible ascending tendency. In this case, the price is expected to break 3/8 and then continue growing to reach the resistance at 4/8. However, this scenario may no longer be valid if the price rebounds from 2/8 to the downside. After that, the instrument may continue falling towards the support at 1/8.

Murrey Math Lines 28.04.2021 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 upside line of the VoltyChannel indicator and, as a result, may continue the ascending tendency.

Murrey Math Lines 28.04.2021 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”

In the H4 chart, USDCAD is trading below the 200-day Moving Average not far from 3/8. Given the current descending tendency in the chart, the price is expected to break 3/8 and then continue falling towards the support at 2/8. Still, this scenario may no longer be valid if the price breaks 4/8 to the upside. After that, the instrument may correct upwards to reach the resistance at 5/8.

Murrey Math Lines 28.04.2021 USDCAD_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, may continue trading downwards.

Murrey Math Lines 28.04.2021 USDCAD_M15
Risk Warning: the result of previous trading operations do not guarantee the same results in the future


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