USDJPY, “US Dollar vs Japanese Yen”
USDJPY quotes are above the 200-day Moving Average on H4, indicating a prevailing uptrend. The RSI is approaching the overbought area. In these circumstances, the quotes are expected to test the 8/8 (150.00) level, rebound from it, and drop to the support at 7/8 (148.43). The scenario can be cancelled by a downward breakout of the 7/8 (148.43) level. In this case, the quotes could drop to the support level at 6/8 (146.87).
On M15, following a test of the 8/8 (150.00) level, the price decline could be additionally supported by a breakout of the lower line of the VoltyChannel.
USDCAD, “US Dollar vs Canadian Dollar”
USDCAD quotes have broken the 200-day Moving Average on H4 and are now above it, which indicates a potential uptrend. The RSI has surpassed the resistance line. In this situation, the price is expected to test the 6/8 (1.3549) level, break it, and rise to the resistance at 7/8 (1.3610). The scenario can be cancelled by a breakout of the support at 5/8 (1.3488). In this case, the pair could decline to 4/8 (1.3427).
On M15, the upper line of the VoltyChannel is broken, which increases the probability of a further price rise.
