In the H4 chart, after breaking the 200-day Moving Average again, USDJPY is trading above it, thus indicating an ascending tendency. In this case, the price is expected to test 3/8, break it, and then continue growing to reach the resistance at 4/8. However, this scenario may no longer be valid if the price breaks 2/8 to the downside. After that, the instrument may fall towards the support at 1/8.
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 its growth.
USDCAD, “US Dollar vs Canadian Dollar”
in the H4 chart, after breaking the 200-day Moving Average, USDCAD is trading above it, thus indicating an ascending tendency. In this case, the price is expected to continue growing towards the resistance at 4/8. Still, this scenario may no longer be valid if the price breaks 3/8 to the downside. After that, the instrument may reverse and trade downwards to reach the support at 2/8.
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 to reach 4/8 from the H4 chart.
