USDJPY, “US Dollar vs. Japanese Yen”
As we can see in the H4 chart, USDJPY has rebounded from the support at 5/8. In this case, the price is expected to resume growing to reach the resistance at 7/8. However, this scenario may no longer be valid if the price breaks 5/8. After that, the instrument may start a new decline towards the support at 3/8.
In the M15 chart, the pair may break the upside line of the VoltyChannel indicator and, as a result, continue trading upwards to reach 7/8 from the H4 chart.
USDCAD, “US Dollar vs Canadian Dollar”
In the H4 chart, USDCAD is moving below 3/8. In this case, the pair is expected to break 2/8 and then continue falling to reach the support at 0/8. However, this scenario may no longer be valid if the price breaks 3/8. After that, the instrument may continue growing towards the resistance 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 the descending tendency towards the support at 0/8 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.