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Murrey Math Lines 16.02.2022 USDJPY, USDCAD

16.02.2022USDJPY, 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 break 88 and then fall to reach the support at 68. 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 falling.USDCAD, US Dollar vs Canadian DollarIn the H4 chart, USDCAD is trading above the 200day Moving Average, thus indicating an ascending tendency. In this case, the price is expected to break the resistance at 58 and continue growing towards 78. Still, this scenario may no longer be valid if the price breaks the support at 48 to the downside. After that, the instrument may reverse and move downwards to reach 28.As we can see in the M15 chart, the upside line of the VoltyChannel indicator is pretty far away from the price, thats why the pair may resume trading upwards only after breaking 58 in 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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