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Murrey Math Lines 01.09.2021 (USDJPY, USDCAD)

01.09.2021

USDJPY, “US Dollar vs. Japanese Yen”

In the H4 chart, after breaking the 200-day Moving Average, USDJPY is trading above it, thus indicating an ascending tendency. In this case, the price is expected to continue growing to reach the closest resistance at 3/8. However, this scenario may no longer be valid if the price breaks 2/8 to the downside. After that, the instrument may fall towards the support at 1/8.

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 its growth.

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 trading above the 200-day Moving Average, thus indicating an ascending tendency. Earlier, the asset rebounded from the support at 3/8. In this case, the price is expected to resume growing towards the resistance at 4/8. Still, this scenario may no longer be valid if the price breaks 3/8 to the downside. After that, the instrument may continue trading downwards to reach the support at 2/8.

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 upside line of the VoltyChannel indicator and, as a result, continue trading upwards.

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

Attention!

Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.


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