Murrey Math Lines 15.01.2020 (USDJPY, USDCAD)

USDJPY, “US Dollar vs. Japanese Yen”

As we can see in the H4 chart, USDJPY is moving above 5/8. In this case, the price is expected to test this level, rebound from it, and then resume growing to reach the resistance at 7/8. However, this scenario may no longer be valid if the price breaks 5/8 to the downside. After that, the instrument may start a new decline towards the support at 3/8.

In the M15 chart, the pair may break the upside line of the VoltyChannel indicator and, as a result, continue trading upwards.

USDCAD, “US Dollar vs Canadian Dollar”

As we can see in the H4 chart, USDCAD is moving below 3/8. In this case, the pair may test this level, rebound from it, and then resume falling to reach the support at 1/8. However, this scenario may no longer be valid if the price breaks 3/8. After that, the instrument may continue growing towards the resistance at 4/8.

In the M15 chart, the pair may break the downside line of the VoltyChannel indicator and, as a result, continue moving downwards to reach 1/8 from the H4 chart.