USDJPY, “US Dollar vs. Japanese Yen”
As we can see in the H4 chart, after leaving the “oversold area”, USDJPY is trading between 1/8 and 2/8. In this case, the price is expected to rebound from 1/8 and then resume growing towards the resistance at 3/8. However, this scenario may no longer be valid if the price breaks 1/8 to the downside. After that, the instrument may continue trading downwards to reach the support at 0/8.
In the M15 chart, the pair may break the upside line of the VoltyChannel indicator and, as a result, continue moving upwards.
USDCAD, “US Dollar vs Canadian Dollar”
In the H4 chart, after breaking 3/8, USDCAD is consolidating. In this case, the pair is expected to continue growing towards the resistance at 4/8. However, this scenario may no longer be valid if the price breaks 3/8 to the downside. After that, the instrument may move downwards to reach the support at 2/8.
As we can see in the M15 chart, the pair has broken the upside line of the VoltyChannel indicator and, as a result, may continue trading upwards.
