Murrey Math Lines 10.04.2024 (USDJPY, USDCAD)

USDJPY, "US Dollar vs Japanese Yen"

USDJPY quotes remain in the overbought area on D1. The RSI is testing the resistance line. In this situation, a breakout of +1/8 (151.56) is expected, followed by a price decline to the support at 7/8 (148.43). The scenario might be cancelled by rising above +2/8 (153.12), which could reshuffle the Murrey indication and set new price targets.

On M15, yet another breakout of the lower boundary of the VoltyChannel could increase the probability of a price decline.

USDCAD, "US Dollar vs Canadian Dollar"

USDCAD is nearing the overbought area on D1. A divergence has formed on the RSI. In this situation, a test of 8/8 (1.3671) is expected, followed by a rebound from this level and a price decline to the support at 6/8 (1.3427). The scenario might be cancelled by a breakout of the resistance at 8/8 (1.3671). In this case, the pair could rise to +1/8 (1.3793).

On M15, after the quotes test 8/8 (1.3671) on H4, the price decline could be additionally supported by a breakout of the lower boundary of the VoltyChannel.