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Murrey Math Lines 08.12.2021 USDJPY, USDCAD

08.12.2021USDJPY, US Dollar vs. Japanese YenAs we can see in the H4 chart, after breaking the 200day Moving Average again, USDJPY is trading below it, thus indicating a descending tendency. In this case, the price is expected to test 28, break it, and continue falling to reach the support at 08. However, this scenario may no longer be valid if the price breaks 38 to the upside. After that, the instrument may reverse and grow towards the resistance at 58.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 88, USDCAD is no longer trading within the overbought area. In this case, the price is expected to break 78 and continue falling towards the support at 68. Still, this scenario may no longer be valid if the price breaks the resistance at 88 to the upside. After that, the instrument may grow to reach 18.As we can see in the M15 chart, the pair has broken the downside line of the VoltyChannel indicator and, as a result, may continue trading downwards.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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