USDJPY, “US Dollar vs. Japanese Yen”
As we can see in the H4 chart, USDJPY is still consolidating. In this case, the price may continue 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 start a new decline towards the support at 1/8.
In the M15 chart, the pair may break the upside line of the VoltyChannel indicator and, as a result, trade upwards to reach 5/8 from the H4 chart.
USDCAD, “US Dollar vs Canadian Dollar”
In the H4 chart, USDCAD was stopped by 7/8. In this case, the pair may reverse and start falling to reach the support at 3/8. However, this scenario may no longer be valid if the price breaks 7/8. After that, the instrument may start a new ascending structure towards the resistance at 8/8.
As we can see in the M15 chart, the pair has broken the downside line of the VoltyChannel indicator and, as a result, may resume falling towards 3/8 from the H4 chart.
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.