USDJPY, “US Dollar vs Japanese Yen”
USDJPY quotes have broken the 200-day Moving Average on H4 and are now hovering above it, which indicates the probable development of an uptrend. The RSI is testing the support line. In these circumstances, the quotes are expected to break the 5/8 (141.40) level and reach the resistance at 7/8 (142.96). The scenario can be cancelled by a downward breakout of the support at 4/8 (140.62). In this case, the pair might drop to 2/8 (139.06).
On M15, price growth might be additionally supported by a breakout of the upper boundary of the VoltyChannel.
USDCAD, “US Dollar vs Canadian Dollar”
USDCAD quotes are in the overbought area on H4. The RSI has rebounded from the support line. In this situation, the price is expected to break the resistance at the 0/8 (1.3183) level and continue to grow to 1/8 (1.3244). The scenario can be cancelled by a downward breakout of the support at the -1/8 (1.3122) level, which could lead to a further decline to -2/8 (1.3061).
On M15, another breakout of the upper line of the VoltyChannel could increase the probability of a price increase.
