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Murrey Math Lines 25.05.2022 (USDJPY, USDCAD)

USDJPY, “US Dollar vs. Japanese Yen”

In the H4 chart, after breaking the 200-day Moving Average, USDJPY is trading below it to indicate a possible descending tendency. In this case, the price is expected to break 1/8 and then continue falling to reach the support at 0/8. However, this scenario may no longer be valid if the price breaks the resistance at 2/8 to the upside. After that, the instrument may reverse and move towards 4/8.

Murrey Math Lines 25.05.2022 USDJPYH4
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 25.05.2022 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. In this case, the price may break 5/8 and then continue growing towards the resistance at 6/8. On the other hand, this scenario may no longer be valid if the pair breaks 4/8 to the downside. After that, the instrument may reverse and move downwards to reach the support at 3/8.

Murrey Math Lines 25.05.2022 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 its growth.

Murrey Math Lines 25.05.2022 USDCAD_M15
Risk Warning: the result of previous trading operations do not guarantee the same results in the future


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