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Murrey Math Lines 06.01.2022 USDJPY, USDCAD

06.01.2022USDJPY, US Dollar vs. Japanese YenAs we can see in the H4 chart, USDJPY is trading within the overbought area. In this case, the price is expected to test 88, break it, and correct downwards to reach the support at 68. However, this scenario may no longer be valid if the price breaks 18 to the upside. After that, the instrument may reverse and grow towards the resistance at 28.In the M15 chart, the pair may break the downside line of the VoltyChannel indicator and, as a result, continue falling.USDCAD, US Dollar vs Canadian DollarIn the H4 chart, after breaking the 200day Moving Average, USDCAD is trading above it, thus indicating an ascending tendency. In this case, the price is expected to test 68, break it, and continue growing towards the resistance at 88. Still, this scenario may no longer be valid if the price breaks the support at 58 to the downside. After that, the instrument may correct downwards to reach 38.As we can see in the M15 chart, the pair has broken the upside line of the VoltyChannel indicator and, as a result, may continue trading upwards.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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