Murrey math lines: USD/JPY, USD/CAD
|USD/JPY, “US Dollar vs Japanese Yen”
USD/JPY quotes are above the 200-day Moving Average on H4, revealing the prevalence of an uptrend. The RSI has broken the resistance line. In this situation, the price is expected to rise above the 7/8 (149.21) level, reaching 8/8 (150.00) later. The scenario can be cancelled by a downward breakout of 6/8 (148.43). In this case, the quotes could drop to the support level of 4/8 (146.87).
On M15, a breakout of the upper boundary of the VoltyChannel could additionally support price growth.
USD/CAD, “US Dollar vs Canadian Dollar”
On the USD/CAD chart, the situation is similar. On H4, the quotes are above the 200-day Moving Average on H4, revealing the prevalence of an uptrend, and the RSI has broken the resistance line. In these circumstances, a test of 7/8 (1.3610) is expected, followed by a breakout of this level and a rise to the resistance at 8/8 (1.3671). The scenario can be cancelled by a downward breakout of the support at 6/8 (1.3549), which could lead to the trend reversal and a decline of the pair to 5/8 (1.3488).
On M15, a breakout of the upper boundary of the VoltyChannel might increase the probability of a price rise.
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