USDJPY, "US Dollar vs Japanese Yen"
On H4, the quotations have broken through the 200-days Moving Average and are trading above it, hinting on a possible development of an uptrend. We expect the level of 4/8 to be tested, then broken away, and further growth of the price to 5/8. The scenario might be cancelled by a breakaway of 3/8 downwards. In this case, the quotations might fall to the support level of 2/8.
On M15, the upper line of the VoltyChannel indicator is broken, which increases the probability of further price growth.
USDCAD, "US Dollar vs Canadian Dollar"
The quotations are trading above the 200-days MA, indicating the dominance of an uptrend. We expect the level of 6/8 to be tested and broken away. Then the price should grow to the resistance level of 7/8. The scenario might be canceled by a breakaway of 5/8 downwards. This might provoke further falling to the support level of 4/8.
On M15, further growth of the price will be supported by a breakaway of the upper border of VoltyChannel.
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.