USDJPY, “US Dollar vs. Japanese Yen”
In the H4 chart, USDJPY is expected the support at the 5/8 level, rebound from it, and then resume growing towards the resistance at the 7/8 level.
In the H1 chart, the price may trade downwards to reach the 5/8 level, rebound from it, and then start a new growth to reach the 8/8 one.
USDCAD, “US Dollar vs Canadian Dollar”
In the H4 chart, USDCAD is consolidating between the 3/8 and 5/8 levels. In this case, the price is expected to break the 3/8 level and continue falling towards the support at the 0/8 one.
The lines in the H4 and H1 charts are completely the same and confirm the scenario described above.
As we can see in the M15 chart, the pair has broken the downside line of the VoltyChannel indicator and, as a result, may continue moving downwards.
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.