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Murrey Math Lines 01.12.2021 USDJPY, USDCAD

01.12.2021USDJPY, US Dollar vs. Japanese YenIn the H4 chart, after breaking the 200day Moving Average, USDJPY is trading below it, thus indicating a descending tendency. In this case, the price is expected to test 28, break it, and continue falling to reach the support at 08. However, this scenario may no longer be valid if the price breaks 38 to the upside. After that, the instrument may reverse and grow towards the resistance at 58.As we can see in the M15 chart, the downside line of the VoltyChannel indicator is pretty far away from the price, thats why the pair may resume trading downwards only after breaking 28 in the H4 chart.USDCAD, US Dollar vs Canadian DollarAs we can see in the H4 chart, USDCAD is trading within the overbought area. In this case, the price is expected to test the support at 88, break it, and then continue falling towards 78. Still, this scenario may no longer be valid if the price breaks the resistance at 18 to the upside. After that, the instrument may grow to reach 28.In the M15 chart, the pair may break the downside line of the VoltyChannel indicator and, as a result, continue falling.Back to listAttention!Forecasts presented in this section only reflect the authors 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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