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Murrey Math Lines 16.06.2021 (USDJPY, USDCAD)

USDJPY, “US Dollar vs. Japanese Yen”

In the H4 chart, USDJPY is trading above the 200-day Moving Average, thus indicating an ascending tendency. In this case, the price is expected to rebound from 6/8 and then resume growing to reach the resistance at 7/8. However, this scenario may no longer be valid if the price breaks 5/8 to the downside. After that, the instrument may reverse and fall towards the support at 4/8.

Murrey Math Lines 16.06.2021 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 16.06.2021 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, after breaking the 200-day Moving Average, USDCAD is trading above it, thus indicating an ascending tendency. In this case, the price is expected to break 4/8 and then continue growing towards the resistance at 5/8. Still, this scenario may no longer be valid if the price breaks 3/8 to the downside. After that, the instrument may reverse and return to the support at 2/8.

Murrey Math Lines 16.06.2021 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 upside line of the VoltyChannel indicator and, as a result, may continue trading upwards to reach 5/8 from the H4 chart.

Murrey Math Lines 16.06.2021 USDCAD_M15
Risk Warning: the result of previous trading operations do not guarantee the same results in the future


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