USDJPY, “US Dollar vs Japanese Yen”
USDJPY quotes are below the 200-day Moving Average on H4, indicating the prevalence of a downtrend. The RSI is nearing the resistance line. As a result, a test of 3/8 (149.21) is expected, followed by a rebound from it and a decline to the support at 1/8 (147.65). The scenario can be cancelled by rising above 3/8 (149.21). In this case, the corrective growth of the pair could continue, and the quotes could reach the 4/8 (150.00) level.
On M15, after a rebound from 3/8 (149.21), a breakout of the lower boundary of the VoltyChannel could serve as an additional signal confirming the price decline.
USDCAD, “US Dollar vs Canadian Dollar”
USDCAD quotes are on the 200-day Moving Average, which indicates no trend at all. The RSI has rebounded from the support line. In this situation, the quotes are expected to rise above 1/8 (1.3732), subsequently growing to the resistance at 2/8 (1.3793). The scenario can be cancelled by a downward breakout of 0/8 (1.3671), in which case the pair might drop to the support at -1/8 (1.3610).
On M15, a breakout of the upper boundary of the VoltyChannel could increase the probability of the price rise.
