USDJPY, “US Dollar vs. Japanese Yen”
In the H4 chart, USDJPY has been trading downwards for almost two weeks without any significant corrections. In this case, the pair may break the 1/8 level and start a slight correction to the upside towards the resistance at the 3/8 one. However, this scenario will no longer be valid if the instrument breaks the 0/8 level. After that, the pair may resume trading downwards with the first target at the -2/8 level.
As we can see in the M15 chart, the pair has broken the upside line of the VoltyChannel indicator and, as a result, may resume trading upwards.
USDCAD, “US Dollar vs Canadian Dollar”
As we can see in the H4 chart, USDCAD has been trying to start a new descending tendency for almost three weeks, but every time it is stopped by the 3/8 level. This time, the price may break the 5/8 level and attempt to reach the 3/8 one again. However, this scenario may be cancelled if the instrument breaks the 6/8 level. In this case, the pair may resume trading upwards to reach the 8/8 one.
In the M15 chart, the pair may break the downside line of the VoltyChannel indicator and, as a result, continue trading downwards.
