USDJPY, “US Dollar vs Japanese Yen”
On H4, the quotes are under the 200-day Moving Average, which indicates the downtrend. The RSI is nearing the overbought area. A bounce off the 3/8 (134.37) is expected, followed by falling to the support level of 2/8 (131.25). The scenario can be cancelled by rising over the resistance level of 3/8 (134.37). In this case, the correction will continue, and the pair may rise to 4/8 (137.50).
On M15, an additional signal confirming the decline will be a breakaway of the lower border of VoltyChannel.
USDCAD, “US Dollar vs Canadian Dollar”
On H4, the quotes have broken through the 200-day Moving Average, which indicates possible development of a downtrend. The RSI is testing the resistance line. A breakaway of 5/8 (1.3488) should be expected, followed by falling to the support level of 4/8 (1.3427). The scenario can be cancelled by rising over the resistance level of 6/8 (1.3549), which might lead to growth of the pair to 7/8 (1.3610).
On M15, the lower line of VoltyChannel is broken. This increases the probability of further price falling.
