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Murrey Math Lines 17.11.2021 USDJPY, USDCAD

17.11.2021USDJPY, US Dollar vs. Japanese YenIn the H4 chart, USDJPY is trading above the 200day Moving Average, thus indicating an ascending tendency. In this case, the price is expected to break 78 and then continue growing to reach the resistance at 88. However, this scenario may no longer be valid if the price breaks 68 to the downside. After that, the instrument may reverse and fall towards the support at 58.As we can see in the M15 chart, the pair has broken the upside line of the VoltyChannel indicator and, as a result, may continue its growth.USDCAD, US Dollar vs Canadian DollarIn the H4 chart, USDCAD is also trading above the 200day Moving Average, thus indicating an ascending tendency. In this case, the price is expected to break 68 and then continue growing towards the resistance at 88. Still, this scenario may no longer be valid if the price breaks 58 to the downside. After that, the instrument may fall to reach the support at 38.As we can see in the M15 chart, the pair has broken the upside line of the VoltyChannel indicator and, as a result, may continue trading upwards.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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