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Murrey Math Lines 18.01.2023 (USDJPY, USDCAD)

18.01.2023

USDJPY, “US Dollar vs Japanese Yen”

On H4, the quotes are under the 200-day Moving Average which indicates a downtrend. The RSI is nearing the overbought area. As a result, a bounce off 4/8 (131.25) is expected, followed by falling to the support level of 2/8 (128.12). The scenario can be cancelled by rising over the resistance level of 4/8 (131.25). In this case, the pair will continue correcting and might reach 5/8 (132.81).

AUDUSDH4
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 too far away from the current price, so falling can only be initiated by a bounce off 4/8 (131.25) on H4.

AUDUSD_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 also under the 200-day Moving Average, which indicates prevalence of a downtrend. The RSI has broken through the support level. As a result, we expect a downward breakaway of 3/8 (1.3366) and falling to the support level of 2/8 (1.3305). The scenario can be cancelled by rising over the resistance level of 5/8 (1.3488), which might lead to a trend reversal and growth to 6/8 (1.3549).

NZDUSD_H4
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 further price falling.

NZDUSD_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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