Morey’s Math Lines 20.07.2022 (USDJPY, USDCAD) :: InvestMacro


Article by RoboForex.com

USDJPY, “US Dollar vs Japanese Yen”

As we can see on the 4 hour chart, the US dollar against the Japanese yen is trading in the “overbought” area. In this case, the price is expected to break the support level at 8/8 It keeps falling and reaching 6/8. However, this scenario may not be valid if the price breaks the resistance at +1/8 to the top. After that, the tool may reverse and grow towards the trend +2/8.


Risk Warning: The result of previous trading operations does not guarantee the same results in the future

In the chart M15, the pair may break the descending line of the VoltyChannel indicator again and, as a result, continue its decline.

USDJPY_M15.00 USD
Risk Warning: The result of previous trading operations does not guarantee the same results in the future

USDCAD, “the US dollar against the Canadian dollar”

On the 4-hour chart, after breaking the 200-day moving average, USDCAD is also trading below it, which indicates a possible downtrend. In this case, the price is expected to test 1/8broke it, then continued declining towards the support level at 0/8. On the other hand, this scenario may not be valid if the pair breaks the resistance level at 2/8 to the top. After that, the tool may reverse and grow to reach 4/8.

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

As we can see in the M15 chart, the pair has broken the descending line of VoltyChannel indicator, and as a result, it may continue to trade lower.

USDCAD_M15.00 USD

Article by RoboForex.com

attention!
Forecasts presented in this section only reflect the author’s own opinion and should not be considered guidelines for trading. RoboForex LP does not assume any responsibility for the trading results based on the trading recommendations described in these analytical reviews.


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