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Murrey Math Lines 12.01.2022 USDJPY, USDCAD

12.01.2022USDJPY, US Dollar vs. Japanese YenAs we can see in the H4 chart, USDJPY has rebounded from the resistance at 88. In this case, the price is expected to break 78 and correct downwards to reach the support at 68. However, this scenario may no longer be valid if the price breaks 88 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, USDCAD is trading below the 200day Moving Average, thus indicating a descending tendency. In this case, the price is expected to test 18, break it, and continue falling towards the support at 08. Still, this scenario may no longer be valid if the price breaks the resistance at 28 to the upside. After that, the instrument may correct upwards to reach 48.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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