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Murrey Math Lines 27.10.2021 USDJPY, USDCAD

27.10.2021USDJPY, US Dollar vs. Japanese YenAs we can see in the H4 chart, after failing to fix above 68, USDJPY is trading below it. In this case, the price is expected to continue falling to reach the closest support at 58. However, this scenario may no longer be valid if the price breaks 68 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 its decline.USDCAD, US Dollar vs Canadian DollarAs we can see in the H4 chart, USDCAD is trading below the 200day Moving Average, thus indicating a descending tendency. In this case, the price is expected to test 58, break it, and then continue falling towards the support at 48. Still, this scenario may no longer be valid if the price breaks 68 to the upside. After that, the instrument may correct to reach the resistance at 78.In the M15 chart, the pair may break the downside line of the VoltyChannel indicator and, as a result, continue trading downwards to reach 48 from 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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