USDJPY, "US Dollar vs Japanese Yen"
USDJPY quotes are below the 200-day Moving Average on H4, which indicates the prevalence of a downtrend. The RSI has rebounded from the resistance line. In this situation, a downward breakout of the 5/8 (146.09) level is expected, followed by a decline to the support at 3/8 (142.18). The scenario could be cancelled by rising above the 6/8 (146.87) mark, in which case the quotes might rise to the resistance at 7/8 (148.43).
On M15, yet another breakout of the lower boundary of the VoltyChannel could increase the probably of a price decline.
USDCAD, "US Dollar vs Canadian Dollar"
USDCAD quotes are below the 200-day Moving Average on H4, which reveals the prevalence of a downtrend. The RSI is testing the resistance line. In this situation, a test of 2/8 (1.3549) is expected, followed by a breakout of this level and a decline to the support at 1/8 (1.3488). The scenario could be cancelled by rising above 3/8 (1.3610), which could lead to a trend reversal and make the pair rise to the resistance at 4/8 (1.3671).
On M15, the price decline might be additionally supported by a breakout of the lower VoltyChannel boundary.
