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Murrey Math Lines 09.03.2022 USDJPY, USDCAD

09.03.2022USDJPY, 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 then continue falling to reach the support at 78. 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 trading downwards.USDCAD, US Dollar vs Canadian DollarIn the H4 chart, USDCAD is trading above the 200day Moving Average to indicate a possible ascending tendency. In this case, the price is expected to continue growing towards the resistance at 88. Still, this scenario may no longer be valid if the price breaks the support at 68 to the downside. After that, the instrument may reverse and move downwards to reach 58.As we can see in the M15 chart, the pair has broken the upside line of the VoltyChannel indicator and, as a result, continue growing.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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