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Murrey Math Lines 28.12.2022 (USDJPY, USDCAD)

28.12.2022

USDJPY, “US Dollar vs Japanese Yen”

On H4, the quotes are under the 200-day Moving Average, which indicates the downtrend. The RSI is nearing the overbought area. A bounce off the 3/8 (134.37) is expected, followed by falling to the support level of 2/8 (131.25). The scenario can be cancelled by rising over the resistance level of 3/8 (134.37). In this case, the correction will continue, and the pair may rise to 4/8 (137.50).

USDJPYH4
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.

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 broken through the 200-day Moving Average, which indicates possible development of a downtrend. The RSI is testing the resistance line. A breakaway of 5/8 (1.3488) should be expected, followed by falling to the support level of 4/8 (1.3427). The scenario can be cancelled by rising over the resistance level of 6/8 (1.3549), which might lead to growth of the pair to 7/8 (1.3610).

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

On M15, the lower line of VoltyChannel is broken. This increases the probability of further price falling.

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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