USDJPY, “US Dollar vs. Japanese Yen”
In the H4 chart, USDJPY is moving close to the “overbought area”. In this case, the price may fix below 8/8 and resume falling to reach the support at 5/8.
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 trading downwards.
USDCAD, “US Dollar vs Canadian Dollar”
As we can see in the H4 chart, USDCAD has broken the downtrend line; right now, it is consolidating. In this case, the pair may rebound from 3/8 and resume growing to reach the resistance at 5/8. However, this scenario may no longer be valid if the price breaks 3/8. After that, the instrument may continue falling towards the support at 2/8.
In the M15 chart, the pair may break the upside line of the VoltyChannel indicator and, as a result, continue moving upwards.
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.