USDJPY, “US Dollar vs. Japanese Yen”
As we can see in the H4 chart, after breaking the 200-day Moving Average again, USDJPY is trading below it, thus indicating a descending tendency. In this case, the price is expected to test 2/8, break it, and continue falling to reach the support at 0/8. However, this scenario may no longer be valid if the price breaks 3/8 to the upside. After that, the instrument may reverse and grow towards the resistance at 5/8.
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 8/8, USDCAD is no longer trading within the “overbought area”. In this case, the price is expected to break 7/8 and continue falling towards the support at 6/8. Still, this scenario may no longer be valid if the price breaks the resistance at 8/8 to the upside. After that, the instrument may grow to reach +1/8.
As we can see in the M15 chart, the pair has broken the downside line of the VoltyChannel indicator and, as a result, may continue trading downwards.
