USD JPY, “US Dollar vs. Japanese Yen”
As we can see at the H4 chart, the USD/JPY pair is consolidating between the 3/8 and 5/8 levels. Right now, the price is expected to fall towards the downside border at the 3/8 level, rebound from it, and then resume growing to reach the upside border at the 5/8 one.
At the H1 chart, the pair is trading inside the “oversold zone” below the support at the 0/8 level. Possibly, the price may test the -2/8 level, rebound from it, and then resume moving upwards to the 2/8 one. However, if the price breaks the 0/8 level, the instrument may will not test the -2/8 one.
At the M15 chart, the pair may break the upside line of the VoltyChannel indicator and, as a result, move towards 113.28.
USD CAD, “US Dollar vs Canadian Dollar”
At the H4 chart, the USD/CAD pair is expected to test the support at the 0/8 level, rebound from it, and then grow towards the 3/8 one.
The lines at the H4 and H1 charts are completely the same and confirms the above-mentioned scenario: the price is expected to rebound from the 0/8 level and resume growing to reach the 3/8 one.
RoboForex Analytical Department
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.