USDJPY, “US Dollar vs Japanese Yen”
On H4, the quotes are under the 200-day Moving Average, revealing prevalence of a downtrend. The RSI has broken through the support line. As a result, a bounce off 4/8 (131.25) is expected, followed by falling to the support level of 2/8 (128.12). The scenario can be cancelled by rising over the resistance level of 5/8 (132.81), which might lead to a trend reversal and growth to 6/8 (134.37).
On M15, the lower line of VoltyChannel is broken away. This indicates prevalence of a downtrend and a high probability of further price falling.
USDCAD, “US Dollar vs Canadian Dollar”
On H4, USDCAD quotes are also under the 200-day Moving Average, revealing prevalence of a downtrend. The RSI is testing the support level. A downward breakaway of 3/8 (1.3366) should be expected, followed by falling to the support level of 2/8 (1.3305). The scenario can be cancelled by rising over the resistance level of 4/8 (1.3427). This might lead to a trend reversal and make the pair grow to 6/8 (1.3549).
On M15, the lower line of VoltyChannel is broken away, which increases the probability of further price falling.
