USDJPY, “US Dollar vs Japanese Yen”
USDJPY quotes are above the 200-day Moving Average on H4, revealing the prevalence of an uptrend. The RSI has rebounded from the support line. In this situation, the quotes are expected to rise above 7/8 (149.21), subsequently reaching the resistance line at +1/8 (150.78). The scenario can be cancelled by a rebound from the 7/8 (149.21) mark. In this case, the quotes could drop to the support at 5/8 (147.65).
On M15, the upper boundary of the VoltyChannel is too far from the current price, hence, the growth of quotes could be supported by a breakout of 7/8 (149.21) on H4.
USDCAD, “US Dollar vs Canadian Dollar”
USDCAD quotes and the RSI are in their respective overbought areas on H4. In these circumstances, a test of 8/8 (1.3671) is expected, followed by a breakout of this level and a decline to 7/8 (1.3610). The scenario can be cancelled by rising above the +1/8 (1.3732) level. In this case, the pair could reach +2/8 (1.3793).
On M15, price decline could be additionally supported by a breakout of the lower boundary of the VoltyChannel.
