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Murrey Math Lines 03.11.2021 USDJPY, USDCAD

03.11.2021USDJPY, US Dollar vs. Japanese YenAs we can see in the H4 chart, USDJPY is trading above the 200day Moving Average, thus indicating an ascending tendency. In this case, the price is expected to test 68, break it, and then continue growing to reach the resistance at 78. 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 its growth.USDCAD, US Dollar vs Canadian DollarAs we can see in the H4 chart, USDCAD is trading below the 200day Moving Average, thus indicating a descending tendency. In this case, the price is expected to test 68, break it, and then continue falling towards the support at 58. Still, this scenario may no longer be valid if the price breaks 68 to the upside. After that, the instrument may correct to reach the resistance at 78.In the M15 chart, the pair may break the downside line of the VoltyChannel indicator and, as a result, continue trading downwards to reach 58 from 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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