USDJPY, “US Dollar vs. Japanese Yen”
As we can see in the H4 chart, USDJPY is approaching the “overbought area”. In this case, the price is expected to test 8/8, rebound from it, and then resume falling towards the support at 6/8. However, this scenario may no longer be valid if the price breaks the resistance at 8/8 to the upside. After that, the instrument may continue trading upwards to reach +1/8.
In the M15 chart, the pair may test 8/8 from the H4 chart, break the downside line of the VoltyChannel indicator, and then, as a result, continue moving downwards.
USDCAD, “US Dollar vs Canadian Dollar”
As we can see in the H4 chart, USDCAD is consolidating between 3/8 and 5/8. In this case, the price is expected to break 4/8 and then continue growing towards the resistance at 5/8. Still, this scenario may no longer be valid if the price breaks 3/8 to the downside. After that, the instrument may correct to reach the closest support at 2/8.
In the M15 chart, the pair may break the upside line of the VoltyChannel indicator again and, as a result, continue trading upwards.
