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Murrey Math Lines 15.05.2024 (USDJPY, USDCAD)

15.05.2024

USDJPY, “US Dollar vs Japanese Yen”

USDJPY quotes are above the 200-day Moving Average on D1, indicating a prevailing uptrend. The RSI has surpassed the resistance line. In this situation, the pair is expected to rise further to 7/8 (159.37). The scenario could be cancelled by a breakout of the 5/8 (153.12) support level. In this case, the quotes could drop to 4/8 (150.00).

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

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

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 quotes have breached the 8/8 (1.3671) level and exited the overbought area on D1. The RSI has broken the support line. In this situation, the price is expected to decline further to the 6/8 (1.3427) support level. The scenario could be cancelled by rising above 8/8 (1.3671). In this case, the quotes might return to the 1/8 (1.3793) resistance level.

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

On M15, the lower line of the VoltyChannel is broken, which increases the probability of a price decline.

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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