USDJPY, “US Dollar vs Japanese Yen”
On H4, the quotes are above the 200-day Moving Average, indicating the prevalence of an uptrend. However, the RSI is nearing the overbought area. As a result, in these circumstances a test of 7/8 (142.18) is expected, followed by a rebound from this level and a decline to the support at 5/8 (139.06). The scenario can be cancelled by rising above the resistance at 7/8 (142.18). In this case, the pair might continue growing, and the quotes might reach 8/8 (143.75).
On M15, an additional signal confirming the decline after a rebound from 7/8 (142.18), might be a breakout of the lower border of the VoltyChannel.
USDCAD, “US Dollar vs Canadian Dollar”
On H4, the quotes are under the 200-day Moving Average, indicating the prevalence of a downtrend. The RSI is testing the resistance line. In this situation, a downward breakout of 2/8 (1.3305) is expected, followed by a decline to the support at 0/8 (1.3183). The scenario can be cancelled by rising above the resistance at 3/8 (1.3366). In this case, the pair could correct to 4/8 (1.3427).
On M15, a breakout of the lower line of the VoltyChannel might increase the probability of a decline.
