USDJPY, “US Dollar vs Japanese Yen”
USDJPY quotes are above the 200-day Moving Average on H4, revealing the prevalence of an uptrend. The RSI has broken the resistance line. In this situation, the quotes are expected to rise above 7/8 (148.43) and then reach the resistance level at 8/8 (150.00). The scenario can be cancelled by a downward breakout of the support level at 6/8 (146.87). In this case, the quotes might drop to 5/8 (145.31).
On M15, the upper boundary of the VoltyChannel is broken. This increases the probability of a further price rise.
USDCAD, “US Dollar vs Canadian Dollar”
On the USDCAD chart, the situation is similar. The quotes are above the 200-day Moving Average, indicating the prevalence of an uptrend, while the RSI has broken the resistance line. In this situation, the quotes are expected to rebound from the 6/8 (1.3549) level and rise to the resistance at 8/8 (1.3671). The scenario can be cancelled by a downward breakout of 6/8 (1.3549). In this case, the pair could correct to the support at 5/8 (1.3488).
On M15, the upper boundary of the VoltyChannel is too far from the current price, and the increase could be supported by a rebound from 6/8 (1.3549) on H4.
