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Murrey Math Lines 22.06.2022 (USDJPY, USDCAD)

22 june 2022 - Fx4News

USDJPY, “US Dollar vs. Japanese Yen”

As we can see in the H4 chart, USDJPY is approaching the “Overbought area”. In this case, the price is expected to test the resistance at 8/8, rebound from it, and then resume falling to reach the support at 6/8. However, this scenario may no longer be valid if the price breaks 8/8 to the upside. After that, the instrument may continue growing towards the resistance at +1/8.

USDJPYH4
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

In the M15 chart, the pair may break the downside line of the VoltyChannel indicator and, as a result, continue its decline. However, before that, it must test 8/8 from the H4 chart.

USDJPY_M15
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDCAD, “US Dollar vs Canadian Dollar”

In the H4 chart, USDCAD is trading above the 200-day Moving Average to indicate a possible ascending tendency. In this case, the price is expected to test 3/8, break it, and then continue growing towards the resistance at 4/8. On the other hand, this scenario may no longer be valid if the pair breaks the support at 2/8 to the downside. After that, the instrument may reverse and fall towards 1/8.

USDCAD_H4
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

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.

USDCAD_M15
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

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