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Murrey Math Lines 06.10.2021 USDJPY, USDCAD

06.10.2021USDJPY, US Dollar vs. Japanese YenIn the H4 chart, USDJPY is trading above the 200day Moving Average, thus indicating an ascending tendency. In this case, the price is expected to break 68 and continue growing to reach the resistance at 88. However, this scenario may no longer be valid if the price breaks the support at 58 to the downside. After that, the instrument may reverse and fall towards 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 its growth.USDCAD, US Dollar vs Canadian DollarIn the H4 chart, after breaking the 200day Moving Average, USDCAD is trading below it, thus indicating a descending tendency. In this case, the price is expected to test 38, rebound from it, and then resume falling towards the support at 18. Still, this scenario may no longer be valid if the price breaks 38 to the upside. After that, the instrument may reverse and trade upwards to reach the resistance at 48.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 the descending tendency only after rebounding from 38 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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