USDJPY, “US Dollar vs. Japanese Yen”
As we can see in the H4 chart, after rebounding from 6/8, USDJPY is trading above it. In this case, the price is expected to test 7/8, break it, and then continue growing to reach the resistance at 8/8. However, this scenario may no longer be valid if the price breaks 6/8 to the downside. After that, the instrument may reverse and fall towards the support at 4/8.
In the M15 chart, the pair may break the upside line of the VoltyChannel indicator and, as a result, continue trading upwards.
USDCAD, “US Dollar vs Canadian Dollar”
In the H4 chart, USDCAD is trading above the 200-day Moving Average to indicate a possible ascending tendency. In this case, the price is expected to test 5/8, break it, and continue growing towards the resistance at 6/8. Still, this scenario may no longer be valid if the price breaks the support at 4/8 to the downside. After that, the instrument may reverse and move downwards to reach 2/8.
As we can see in the M15 chart, the pair has broken the upside line of the VoltyChannel indicator and, as a result, continue growing.
