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Murrey Math Lines 04.08.2021 USDJPY, USDCAD

04.08.2021USDJPY, US Dollar vs Japanese YenOn H4, the quotations are trading in the oversold area. We expect the level of 08 to be tested, broken away, after which the quotations will grow to the resistance level of 18. The scenario can be canceled by a breakaway of 18 downwards, which will make them fall deeper to the support level of 28.On M15, a breakaway of the upper line of VoltyChannel will increase the probability of price growth.USDCAD, US Dollar vs Canadian DollarThe quotations of the currency pair are trading above the 200days Moving Average, indicating an uptrend. We expect a bounce off 58 and further growth to the resistance level of 78. The scenario can be canceled by a breakaway of 58 downwards. This might lead to a decline to 48.On M15, the upper line of VoltyChannel has been broken away. This confirms the presence of an uptrend and a high probability of further growth.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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