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Murrey Math Lines 19.04.2023 (USDJPY, USDCAD)

19.04.2023

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 has rebounded from the support line. In this situation, the price is expected to rise above 6/8 (134.37) and reach the resistance level of 7/8 (135.93). The scenario can be canceled by a downward breakout of the support level at 5/8 (132.81), which might lead to a trend reversal and falling to 4/8 (131.25).

USDJPY_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 growth of the price will be a breakout of the upper border of the VoltyChannel indicator.

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 reveals the prevalence of a downtrend. The RSI is testing the resistance line. In these circumstances, a rebound from 6/8 (1.3427) is expected, followed by falling to the support at 4/8 (1.3183). The scenario can be canceled by rising above the resistance at 6/8 (1.3427). In this case, the pair may correct to 7/8 (1.3549).

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

On M15, after a rebound from 6/8 (1.3427), an additional signal confirming the decline will be a breakout 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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