USDJPY, “US Dollar vs. Japanese Yen”
As we can see in the H4 chart, USDJPY is trading within the “overbought area”. In this case, the price is expected to test 8/8, break it, and correct downwards to reach the support at 6/8. However, this scenario may no longer be valid if the price breaks +1/8 to the upside. After that, the instrument may reverse and grow towards the resistance at +2/8.
In the M15 chart, the pair may break the downside line of the VoltyChannel indicator and, as a result, continue falling.
USDCAD, “US Dollar vs Canadian Dollar”
In the H4 chart, after breaking the 200-day Moving Average, USDCAD is trading above it, thus indicating an ascending tendency. In this case, the price is expected to test 6/8, break it, and continue growing towards the resistance at 8/8. Still, this scenario may no longer be valid if the price breaks the support at 5/8 to the downside. After that, the instrument may correct downwards to reach 3/8.
As we can see in the M15 chart, the pair has broken the upside line of the VoltyChannel indicator and, as a result, may continue trading upwards.
