USDJPY, “US Dollar vs. Japanese Yen”
In the H4 chart, USDJPY is trading above the 200-day Moving Average, thus indicating a possible ascending tendency. In this case, the price is expected to test 5/8, break it, and continue growing to reach the resistance at 6/8. However, this scenario may no longer be valid if the price breaks 4/8 to the downside. After that, the instrument may reverse and fall towards the support at 3/8.
As we can see in the M15 chart, the pair has broken the upside line of the VoltyChannel indicator and, as a result, may continue growing.
USDCAD, “US Dollar vs Canadian Dollar”
In the H4 chart, USDCAD is trading above the 200-day Moving Average, thus indicating an ascending tendency. In this case, the price is expected to test 6/8, break it, and continue growing towards the resistance at 7/8. Still, this scenario may no longer be valid if the price breaks the support at 5/8 to the downside. After that, the instrument may correct downwards to reach 4/8.
As we can see in the M15 chart, the pair has broken the upside line of the VoltyChannel indicator and, as a result, may continue trading upwards.
