USDJPY, “US Dollar vs Japanese Yen”
On H4, the quotes are under the 200-day Moving Average, which reveals the prevalence of a downtrend. The RSI has broken the support line. As a result, we expect a downward breakout of the level of 4/8 (131.25), after which the price could continue falling to the support at 3/8 (126.68). The scenario can be canceled by rising above the resistance at 5/8 (132.81), which could lead to a trend reversal and growth to the level of 6/8 (134.37).
On M15, the lower line of the VoltyChannel indicator is broken. This development increases the probability of further price falling.
USDCAD, “US Dollar vs Canadian Dollar”
On H4, the quotes are also under the 200-day Moving Average, indicating the prevalence of a downtrend. The RSI is nearing the resistance line. Currently, we expect a downwards breakout of 6/8 (1.3427) and further price falling to the support at 5/8 (1.3305). The scenario can be canceled by rising above the resistance at 7/8 (1.3549). In this case, the pair could rise to 8/8 (1.3671).
On M15, further price falling could be additionally supported by a breakout of the lower border of VoltyChannel.
