USDJPY, “US Dollar vs. Japanese Yen”
In the H4 chart, USDJPY is trading above 7/8. In this case, the price is expected to continue growing to reach the “overbought area” and the resistance at +1/8. However, this scenario may no longer be valid if the price breaks 7/8 to the downside. After that, the instrument may start a new decline towards the support at 5/8.
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.
USDCAD, “US Dollar vs Canadian Dollar”
In the H4 chart, USDCAD is consolidating. In this case, the pair is expected to break 4/8 and then continue growing to reach the resistance at 5/8. However, this scenario may no longer be valid if the price breaks the support at 3/8. After that, the instrument may continue falling towards 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, may continue moving upwards.
