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 possible descending tendency. In this case, the price is expected to test 3/8, break it, and then continue falling to reach the support at 1/8. However, this scenario may no longer be valid if the price breaks 5/8 to the upside. After that, the instrument may reverse and grow towards the resistance at 7/8.
In the M15 chart, the pair may break the downside line of the VoltyChannel indicator and, as a result, continue falling.
USDCAD, “US Dollar vs Canadian Dollar”
As we can see in the H4 chart, after rebounding from the 200-day Moving Average, USDCAD is trading below it, thus indicating a descending tendency. In this case, the price is expected to test 3/8, break it, and then continue falling towards the support at 2/8. Still, this scenario may no longer be valid if the price breaks the resistance at 4/8 to the upside. After that, the instrument may reverse and move upwards to reach 5/8.
In the M15 chart, the pair may break the downside line of the VoltyChannel indicator and, as a result, continue trading downwards to reach 2/8 in the H4 chart.
