USDJPY, “US Dollar vs. Japanese Yen”
In the H4 chart, USDJPY is trading within the “overbought area”. In this case, the price is expected to test 8/8, break it, and then continue falling to reach the support at 7/8. However, this scenario may no longer be valid if the price breaks the resistance at +1/8 to the upside. After that, the instrument may grow towards +2/8.
In the M15 chart, the pair may break the downside line of the VoltyChannel indicator and, as a result, continue trading downwards.
USDCAD, “US Dollar vs Canadian Dollar”
As we can see in the H4 chart, USDCAD is moving close to the “overbought area” at the 200-day Moving Average, so it’s difficult to determine any particular tendency right now. The chart shows that the asset was moving inside this area not long time ago; however, then it broke 8/8 and reached the support at 6/8. At the moment, there is a possibility that this scenario may repeat but from the current levels. Still, to confirm this idea, the [price must break 7/8 first. On the other hand, this scenario may no longer be valid if the pair breaks the resistance at 8/8 to the upside. After that, the instrument may reverse and move upwards to reach +1/8.
In the M15 chart, the pair may break the downside line of the VoltyChannel indicator and, as a result, continue its decline.
