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Murrey Math Lines 22.12.2021 USDJPY, USDCAD

22.12.2021USDJPY, US Dollar vs. Japanese YenIn the H4 chart, USDJPY is trading above the 200day Moving Average, thus indicating a possible ascending tendency. In this case, the price is expected to test 58, break it, and continue growing to reach the resistance at 68. However, this scenario may no longer be valid if the price breaks 48 to the downside. After that, the instrument may reverse and fall towards 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 growing.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 test 68, break it, and continue growing towards the resistance at 78. Still, this scenario may no longer be valid if the price breaks the support at 58 to the downside. After that, the instrument may correct downwards to reach 48.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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