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Murrey Math Lines 26.01.2022 USDJPY, USDCAD

26.01.2022USDJPY, US Dollar vs. Japanese YenAs we can see in the H4 chart, USDJPY is trading below the 200day Moving Average, thus indicating a possible descending tendency. In this case, the price is expected to test 38, break it, and then continue falling to reach the support at 18. However, this scenario may no longer be valid if the price breaks 58 to the upside. After that, the instrument may reverse and grow towards the resistance at 78.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 DollarAs we can see in the H4 chart, after rebounding from the 200day Moving Average, USDCAD is trading below it, thus indicating a descending tendency. In this case, the price is expected to test 38, break it, and then continue falling towards the support at 28. Still, this scenario may no longer be valid if the price breaks the resistance at 48 to the upside. After that, the instrument may reverse and move upwards to reach 58.In the M15 chart, the pair may break the downside line of the VoltyChannel indicator and, as a result, continue trading downwards to reach 28 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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