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Murrey Math Lines 13.09.2023 (USDJPY, USDCAD)

USDJPY, “US Dollar vs Japanese Yen”

USDJPY quotes are above the 200-day Moving Average on H4, revealing the prevalence of an uptrend. The RSI has broken the resistance line. In this situation, the quotes are expected to rise above 7/8 (148.43) and then reach the resistance level at 8/8 (150.00). The scenario can be cancelled by a downward breakout of the support level at 6/8 (146.87). In this case, the quotes might drop to 5/8 (145.31).

Murrey Math Lines 13.09.2023 USDJPY_H4
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

On M15, the upper boundary of the VoltyChannel is broken. This increases the probability of a further price rise.

Murrey Math Lines 13.09.2023 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 the USDCAD chart, the situation is similar. The quotes are above the 200-day Moving Average, indicating the prevalence of an uptrend, while the RSI has broken the resistance line. In this situation, the quotes are expected to rebound from the 6/8 (1.3549) level and rise to the resistance at 8/8 (1.3671). The scenario can be cancelled by a downward breakout of 6/8 (1.3549). In this case, the pair could correct to the support at 5/8 (1.3488).

Murrey Math Lines 13.09.2023 USDCAD_H4
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

On M15, the upper boundary of the VoltyChannel is too far from the current price, and the increase could be supported by a rebound from 6/8 (1.3549) on H4.

Murrey Math Lines 13.09.2023 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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