Murrey Math Lines 22.04.2020 (USDJPY, USDCAD)
USDJPY, “US Dollar vs. Japanese Yen”
As we can see in the H4 chart, USDJPY has rebounded from 5/8. In this case, the price is expected to resume falling towards the support at 4/8. However, this scenario may no longer be valid if the price breaks 5/8 to the upside. After that, the instrument may continue trading upwards to reach the resistance at 6/8.
In the M15 chart, the pair may break the downside line of the VoltyChannel indicator and, as a result, continue moving downwards.
USDCAD, “US Dollar vs Canadian Dollar”
In the H4 chart, after breaking 2/8, USDCAD may is expected to continue growing towards the resistance at 3/8. However, this scenario may no longer be valid if the price breaks 2/8 to the downside. After that, the instrument may move downwards to reach the support at 1/8.
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.