USDJPY, “US Dollar vs. Japanese Yen”
As we can see in the H4 chart, USDJPY has rebounded from the resistance at 3/8. In this case, the price is expected to continue falling towards the support at 1/8. However, this scenario may no longer be valid if the price breaks 3/8 to the upside. After that, the instrument may continue trading upwards to reach the resistance at 5/8.
In the M15 chart, the pair may break the downside line of the VoltyChannel indicator and, as a result, may continue moving downwards to reach 1/8 from the H4 chart.
USDCAD, “US Dollar vs Canadian Dollar”
In the H4 chart of USDCAD, the situation is quite similar. The asset is moving below 3/8. In this case, the pair is expected to continue falling towards the support at 1/8. However, this scenario may no longer be valid if the price breaks 3/8 to the upside. After that, the instrument may correct upwards to reach the resistance at 5/8.
In the M15 chart, the pair may break the downside line of the VoltyChannel indicator and, as a result, continue trading downwards.
