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Murrey Math Lines 15.02.2023 (USDJPY, USDCAD)

15.02.2023

USDJPY, “US Dollar vs Japanese Yen”

On H4, the quotes are above the 200-day Moving Average, which reveals prevalence of an uptrend. The RSI has bounce off the support level, As a result, the quotes are expected to rise above 7/8 (133.59) and grow to the resistance level of 8/8 (134.37). The scenario can be cancelled by a downward breakaway of the support level of 5/8 (132.03). In this case, the pair may drop to 3/8 (130.46).

USDJPY_H4
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

On m15, the upper line of VoltyChannel has been broken away. This indicates prevalence of an uptrend and a high probability of further 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 under the 200-day Moving Average, which indicates prevalence of a downtrend. The RSI is nearing the resistance line. As a result, a bounce off 3/8 (1.3366) should be expected, followed by falling to the support level of 1/8 (1.3244). The scenario can be cancelled by rising above the resistance level of 4/8 (1.3427). This might make the trend reverse and make the pair grow to 5/8 (1.3488).

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 too far away from the current price, hence falling of the quotes will be indicated by a bounce off 3/8 (1.3366) on H4.

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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