rfxsignals May 13, 2020 No Comments

Murrey Math Lines 13.05.2020 (USDJPY, USDCAD)

13.05.2020

USDJPY, “US Dollar vs. Japanese Yen”

As we can see in the H4 chart, after leaving the “oversold area”, USDJPY is trading between 1/8 and 2/8. In this case, the price is expected to rebound from 1/8 and then resume growing towards the resistance at 3/8. However, this scenario may no longer be valid if the price breaks 1/8 to the downside. After that, the instrument may continue trading downwards to reach the support at 0/8.

USDJPY_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 moving upwards.

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, after breaking 3/8, USDCAD is consolidating. In this case, the pair is expected to continue growing towards the resistance at 4/8. However, this scenario may no longer be valid if the price breaks 3/8 to the downside. After that, the instrument may move downwards to reach the support at 2/8.

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