USDJPY, “US Dollar vs Japanese Yen”
USDJPY quotes are above the 200-day Moving Average on H4, indicating a prevailing uptrend. The RSI has reached the oversold area. As a result, in this situation, the quotes are expected to surpass 5/8 (150.78) and continue rising to the resistance at 6/8 (151.56). The scenario can be cancelled by a downward breakout of the 4/8 (150.00) level. In this case, the pair could drop to 3/8 (149.21).
On M15, a breakout of the upper boundary of the VoltyChannel could serve as an additional signal confirming the price rise.
USDCAD, “US Dollar vs Canadian Dollar”
USDCAD quotes have broken the 200-day Moving Average on H4, which suggests a potential downtrend. However, the RSI has reached the oversold area. In this situation, the price is expected to test the 4/8 (1.3671) level, rebound from it, and rise to the resistance at 5/8 (1.3793). The scenario can be cancelled by a downward breakout of the 4/8 (1.3671) level. In this case, the pair will continue to decline, with the quotes potentially dropping to 3/8 (1.3610).
On M15, the upper boundary of the VoltyChannel is too far away from the current price, so the price rise could be supported by a rebound from the 4/8 (1.3671) level on H4.
