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Murrey Math Lines 15.12.2021 USDJPY, USDCAD

15.12.2021USDJPY, US Dollar vs. Japanese YenIn the H4 chart, after breaking the 200day Moving Average, USDJPY is trading above it, thus indicating a possible ascending tendency. In this case, the price is expected to test 48, break it, and continue growing to reach the resistance at 58. However, this scenario may no longer be valid if the price breaks 38 to the downside. After that, the instrument may reverse and fall towards the support at 28.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.USDCAD, US Dollar vs Canadian DollarAs we can see in the H4 chart, USDCAD is trading within the overbought area. In this case, the price is expected to test 18, break it, and continue falling towards the support at 88. Still, this scenario may no longer be valid if the price breaks the resistance at 28 to the upside. After that, the lines in the chart will be redrawn, thus helping us to define new upside targets.In the M15 chart, the pair may break the downside line of the VoltyChannel indicator and, as a result, 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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