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Murrey Math Lines 02.11.2022 (USDJPY, USDCAD)

02.11.2022

USDJPY, “US Dollar vs Japanese Yen”

On H4, the quotes are above the 200-day Moving Average, indicating the prevalence of an uptrend. The RSI is testing the support level. A movement towards 7/8 (148.43) should be expected, followed by a breakaway and growth to the resistance level of 8/8 (150.00). The scenario can be cancelled by a breakaway of the support level of 6/8 (146.87) downwards. In this case, the quotes may correct 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 have bounced off 8/8 (1.3671). This suggests possible falling to the nearest support level of 7/8 (1.3427). The scenario can be cancelled by a second test of 8/8 (1.3671) and a breakaway of this level. In this case, the pair will start growing again and might reach 1/8 (1.3916).

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

On M15, an additional signal confirming the decline will be a breakaway of the lower 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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