USDJPY, “US Dollar vs. Japanese Yen”
In the H4 chart, USDJPY is trading above the 200-day Moving Average, thus indicating an ascending tendency. In this case, the price is expected to break 7/8 and then continue growing to reach the resistance at 8/8. However, this scenario may no longer be valid if the price breaks 7/8 to the downside. After that, the instrument may continue falling towards the support at 6/8.
As we can see in the M15 chart, the pair has broken the upside line of the VoltyChannel indicator, and, as a result, may continue moving upwards.
USDCAD, “US Dollar vs Canadian Dollar”
In the H4 chart, after breaking the 200-day Moving Average, USDCAD is trading above it. In this case, the price is expected to break the resistance at 7/8 to the upside and continue the ascending tendency to reach 8/8. Still, this scenario may no longer be valid if the price breaks the support at 6/8 to the downside. After that, the instrument may reverse and resume falling towards 5/8.
As we can see in the M15 chart, the pair has broken the upside line of the VoltyChannel indicator and, as a result, may continue trading upwards.
