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