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Murrey Math Lines 02.02.2022 USDJPY, USDCAD

02.02.2022USDJPY, US Dollar vs. Japanese YenAs we can see in the H4 chart, USDJPY is trading above the 200day Moving Average, thus indicating a possible ascending tendency. In this case, the price is expected to break 68 and then continue growing to reach the resistance at 88. However, this scenario may no longer be valid if the price breaks 58 to the downside. After that, the instrument may reverse and fall towards the support at 48.In the M15 chart, the pair may break the upside line of the VoltyChannel indicator and, as a result, continue growing.USDCAD, US Dollar vs Canadian DollarAs we can see in the H4 chart, after rebounding from the 200day Moving Average, USDCAD is trading above it, thus indicating an ascending tendency. In this case, the price is expected to break 48 and then continue growing towards the resistance at 58. Still, this scenario may no longer be valid if the price breaks the support at 38 to the downside. After that, the instrument may reverse and move downwards to reach 28.In the M15 chart, the pair may break the upside line of the VoltyChannel indicator and, as a result, continue trading upwards to reach 58 in the H4 chart.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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