As we can see in the H4 chart, USDJPY is trading above the 200-day Moving Average, thus indicating an ascending tendency. In this case, the price is expected to test 5/8, break it, and then continue growing to reach the resistance at 7/8. However, this scenario may no longer be valid if the price breaks 4/8 to the downside. After that, the instrument may fall 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 the ascending tendency.
USDCAD, “US Dollar vs Canadian Dollar”
As we can see in the H4 chart, USDCAD is trading below the 200-day Moving Average, thus indicating a descending tendency. In this case, the price is expected to test 3/8, rebound from it, and then resume falling towards the closest support at 2/8. Still, this scenario may no longer be valid if the price breaks 3/8 to the upside. After that, the instrument may continue growing to reach the resistance at 4/8.
In the M15 chart, the pair may break the downside line of the VoltyChannel indicator and, as a result, continue trading downwards.
