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Murrey Math Lines 09.02.2022 (USDJPY, USDCAD)

09.02.2022

USDJPY, “US Dollar vs. Japanese Yen”

As we can see in the H4 chart, USDJPY is trading above the 200-day Moving Average, thus indicating a possible ascending tendency; right now, the asset is rebounding from the resistance at 8/8. In this case, the price is expected to correct down to the support at 6/8. However, this scenario may no longer be valid if the price breaks 8/8 to the upside. After that, the instrument may reverse and grow towards the resistance at 2/8.

USDJPYH4
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 falling.

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, after rebounding from the 200-day Moving Average, USDCAD is trading above it, thus indicating an ascending tendency. In this case, the price is expected to continue growing towards the resistance at 5/8. Still, this scenario may no longer be valid if the price breaks 4/8 to the downside. After that, the instrument may reverse and move downwards to reach the support at 3/8.

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 to reach 5/8 in the H4 chart.

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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