USDJPY, “US Dollar vs. Japanese Yen”
As we can see in the H4 chart, USDJPY is consolidating. It has already rebounded from 5/8 and right now is expected to continue falling towards the support at 3/8. However, this scenario may no longer be valid if the price breaks 5/8 to the upside. After that, the instrument may continue trading upwards to reach the resistance 6/8.
In the M15 chart, the pair may break the downside line of the VoltyChannel indicator and, as a result, continue moving downwards to reach 3/8 from the H4 chart.
USDCAD, “US Dollar vs Canadian Dollar”
In the H4 chart, the pair is moving above 5/8. In this case, USDCAD may rebound from 6/8 and then resume growing towards the resistance at 7/8. However, this scenario may no longer be valid if the price breaks 6/8 to the downside. After that, the instrument may correct downwards to reach the support 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 trading 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.