USDJPY, “US Dollar vs. Japanese Yen”
As we can see in the H4 chart, USDJPY is moving inside the “oversold area”. In this case, the price may break 0/8 and continue growing to reach the resistance at 3/8. As long as the price is trading below 0/8, the descending tendency may continue to reach 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 trading upwards.
USDCAD, “US Dollar vs Canadian Dollar”
In the H4 chart, USDCAD is trading above 5/8. In this case, the pair may continue growing to reach the resistance at 8/8. However, this scenario may no longer be valid if the price breaks 6/8. After that, the instrument may start a new descending correction towards the support at 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 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.