USDJPY, “US Dollar vs Japanese Yen”
USDJPY quotes are above the 200-day Moving Average on H4, which reveals the prevalence of an uptrend. The RSI is testing the support line. In this situation, the quotes are expected to rise above 7/8 (148.43), subsequently reaching the resistance level at 8/8 (150.00). The scenario could be cancelled by a downward breakout of the support at 6/8 (146.87), which might lead to a trend reversal and a decline to the 5/8 (146.09) level.
On M15, the price growth could be additionally supported by a breakout of the upper boundary of the VoltyChannel.
USDCAD, “US Dollar vs Canadian Dollar”
USDCAD quotes are above the 200-day Moving Average on H4, which reveals the prevalence of an uptrend. The RSI is testing the support line. In this situation, the price is expected to rise above the 5/8 (1.3488) level, subsequently reaching the resistance at 7/8 (1.3610). The scenario could be cancelled by a downward breakout of the 4/8 (1.3427) level. In this case, the pair might drop to the support at 3/8 (1.3366).
On M15, a breakout of the upper boundary of the VoltyChannel might increase the probability of a price rise.
