USDJPY, “US Dollar vs Japanese Yen”
The USDJPY pair and the RSI on H4 are in their respective overbought areas. In this situation, a test of 8/8 (150.00) is expected, followed by a breakout of the level and a price decline to 7/8 (148.43). The scenario could be cancelled by rising above +1/8 (151.56). In this case, the quotes might reach the resistance at +2/8 (153.12).
On M15, the price decline could be additionally supported by a breakout of the lower boundary of the VoltyChannel.
USDCAD, “US Dollar vs Canadian Dollar”
USDCAD quotes are above the 200-day Moving Average on H4, revealing the prevalence of an uptrend. However, the RSI has reached the overbought area. As a result, in this situation, a breakout of 6/8 (1.3549) is expected, followed by a price decline to the support at 4/8 (1.3427). The scenario might be cancelled by rising above the 7/8 (1.3610) level. In this case, the pair could rise to the resistance at 8/8 (1.3671).
On M15, a breakout of the lower boundary of the VoltyChannel could increase the probability of the price decline.
