USD JPY, “US Dollar vs. Japanese Yen”
At the H4 chart, the USD/JPY pair is consolidating between the 3/8 and 5/8 levels. At the moment, the price is expected to fall towards the 4/8 level. However, if the pair breaks the 5/8 level, the instrument may continue growing to reach the resistance at the 8/8 one.
As we can see at the H1 chart, the price is trading inside the “oversold zone” below the 0/8 level. If this level is broken, the instrument may resume growing towards the 3/8 one.
At the M15 chart, the pair may break the upside line of the VoltyChannel indicator and, as a result, continue moving upwards to reach 112.50.
USD CAD, “US Dollar vs Canadian Dollar”
At the H4 chart, the USD/CAD pair is expected to test the support at the 5/8 level.
As we can see at the H1 chart, the pair has broken the consolidation range and the 3/8 level. In this case, the price may continue falling towards the support at the 0/8 one.
As we can see at the M15 chart, the pair has broken the downside line of the VoltyChannel indicator and, as a result, may continue moving downwards.
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.