USDJPY, “US Dollar vs. Japanese Yen”
As we can see in the H4 chart, USDJPY is trading below the 200-day Moving Average, thus indicating a descending tendency. In this case, the price is expected to break 1/8 and then continue falling to reach the support at -1/8. However, this scenario may no longer be valid if the price breaks 2/8 to the upside. After that, the instrument may grow towards the resistance at 3/8.
In the M15 chart, the pair may break the downside line of the VoltyChannel indicator and, as a result, continue its decline.
USDCAD, “US Dollar vs Canadian Dollar”
In the H4 chart, USDCAD is within the “overbought area”. In this case, the price is expected to break 8/8 and then continue falling towards the support at 6/8. Still, this scenario may no longer be valid if the price breaks the resistance at +1/8 to the upside. After that, the instrument may continue trading upwards to reach +2/8.
As we can see in the M15 chart, the pair has broken the downside line of the VoltyChannel indicator and, as a result, may continue trading downwards to reach 6/8 from the H4 chart.
