USDJPY, “US Dollar vs Japanese Yen”
USDJPY quotes are above the 200-day Moving Average on H4, which indicates the prevalence of an uptrend. The RSI has rebounded from the support line. In this situation, a test of 7/8 (148.43) is expected, followed by a breakout of this level and a rise to the resistance at 8/8 (150.00). The scenario could be cancelled by a downward breakout of the support at 6/8 (146.87). In this case, the pair cold drop to the 5/8 (146.09) level.
On M15, the price growth could be additionally supported by a breakout of the upper boundary of the VoltyChannel.
USDCAD, “US Dollar vs Canadian Dollar”
USDCAD quotes have broken the 200-day Moving Average on H4 and currently rest below it, which indicates the possibility of a downtrend development. The RSI has rebounded from the resistance line. In this situation, a rebound from 4/8 (1.3427) is expected, followed by a price decline to the support at 2/8 (1.3305). The scenario could be cancelled be rising above the 4/8 (1.3427) level, in which case the pair might rise to the resistance level of 5/8 (1.3488).
On M15, the lower boundary of the VoltyChannel is broken, which increases the probability of the price decline.
