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Murrey Math Lines 26.10.2022 (USDJPY, USDCAD)

26.10.2022

USDJPY, “US Dollar vs Japanese Yen”

On H4, the quotes are above the 200-day Moving Average, indicating an uptrend. The RSI has bounced off the support level. Currently, the pair is expected to rise over 7/8 (148.43) and to reach the resistance level of 8/8 (150.00). The scenario can be cancelled by a downward breakaway of the support level at 6/8 (146.87), in which case the correction might continue to 5/8 (145.31).

USDJPYH4
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

On M15, a breakaway of the upper border of VoltyChannel will increase the probability of price 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”

On H4, the quotes are above the 200-day Moving Average, demonstrating thus an uptrend. The RSI is nearing the oversold area. A test of 8/8 (1.3671) should be expected, followed by a breakaway and growth to the resistance level of 1/8 (1.3916). The scenario can be cancelled by a downward breakaway of the support level at 7/8 (1.3427), which might lead to a trend reversal and falling to 6/8 (1.3183).

USDCAD_H4
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

On M15, growth will be additionally supporter by a breakaway of the upper border of VoltyChannel.

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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