Murrey Math Lines 10.08.2022 (USDJPY, USDCAD)

10.08.2022

USDJPY, “US Dollar vs. Japanese Yen”

As we can see in the H4 chart, after breaking the 200-day Moving Average, USDJPY is trading above it to indicate an ascending tendency. In this case, the price is expected to test the resistance at 7/8, break it, and then continue growing and reach 8/8. However, this scenario may no longer be valid if the price breaks the support at 6/8 to the downside. After that, the instrument may reverse and fall towards 5/8.

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 upside line of the VoltyChannel indicator and, as a result, continue its growth to reach 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”

As we can see in the H4 chart, USDCAD has also broken the 200-day Moving Average; right now, it is trading below it, thus indicating a possible ascending tendency. In this case, the price is expected to break the resistance at 4/8 and continue growing towards 5/8. On the other hand, this scenario may no longer be valid if the pair breaks the support at 3/8 to the downside. After that, the instrument may reverse and fall to reach 2/8.

USDCAD_H4
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 upside line of the VoltyChannel indicator and, as a result, 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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