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Murrey Math Lines 07.12.2022 (USDJPY, USDCAD)

USDJPY, “US Dollar vs Japanese Yen”

On H4, the quotes are under the 200-day Moving Average, which indicates the prevalence of a downtrend. The RSI is testing the resistance line. A bounce off 4/8 (137.50) should be expected, followed by falling to the support level of 3/8 (134.37). The scenario can be cancelled by rising over the resistance of 4/8 (137.50), in which case the pair may rise to 5/8 (140.62).

Murrey Math Lines 07.12.2022 USDJPYH4
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

On M15, a breakaway of the lower line of VoltyChannel will increase the probability of price falling.

Murrey Math Lines 07.12.2022 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”

On H4, the quotes have reached the overbought area, and the RSI is above 70, which means it is also overbought. In the end, a bounce off 8/8 (1.3671) should be expected, followed by falling to the support level of 7/8 (1.3549). The scenario can be cancelled by rising over the resistance level of 8/8 (1.3671). In this case, the pair may continue going upwards and reach 1/8 (1.3793).

Murrey Math Lines 07.12.2022 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.

Murrey Math Lines 07.12.2022 USDCAD_M15
Risk Warning: the result of previous trading operations do not guarantee the same results in the future


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