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Murrey Math Lines 10.04.2024 (USDJPY, USDCAD)

USDJPY, "US Dollar vs Japanese Yen"

USDJPY quotes remain in the overbought area on D1. The RSI is testing the resistance line. In this situation, a breakout of 1/8 (151.56) is expected, followed by a price decline to the support at 7/8 (148.43). The scenario might be cancelled by rising above 2/8 (153.12), which could reshuffle the Murrey indication and set new price targets.

Murrey Math Lines 10.04.2024 USDJPY
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

On M15, yet another breakout of the lower boundary of the VoltyChannel could increase the probability of a price decline.

Murrey Math Lines 10.04.2024 USDJPY
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDCAD, "US Dollar vs Canadian Dollar"

USDCAD is nearing the overbought area on D1. A divergence has formed on the RSI. In this situation, a test of 8/8 (1.3671) is expected, followed by a rebound from this level and a price decline to the support at 6/8 (1.3427). The scenario might be cancelled by a breakout of the resistance at 8/8 (1.3671). In this case, the pair could rise to 1/8 (1.3793).

Murrey Math Lines 10.04.2024 USDCAD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

On M15, after the quotes test 8/8 (1.3671) on H4, the price decline could be additionally supported by a breakout of the lower boundary of the VoltyChannel.

Murrey Math Lines 10.04.2024 USDCAD
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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