USD CAD, “US Dollar vs Canadian Dollar”
At the H4 chart of USD CAD, the stable downtrend continues. The pair is falling and forming Hanging Man, Shooting Star, Engulfing, and Doji patterns during pullbacks. After finishing another correction, the pair formed Shooting Star and Engulfing patterns at the top, and, as a result, fell and broke the support level. The correction that followed was completed with Engulfing and several Harami patterns. The downside target is still at 1.2222.
USD JPY, “US Dollar vs. Japanese Yen”
As we can see at the H4 chart, the USD/JPY pair is stuck between the support and resistance levels. The range between these levels is quite wide and the price is constantly forming Harami, Hanging Man, Engulfing, Shooting Star, and Hammer reversal patterns during pullbacks while moving from one border to another. At the moment, after forming Harami and Hanging Man patterns, which confirm the decline, the pair is moving towards the support level. The downside target is at 108.45.
RoboForex Analytical Department