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 6/8, 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 the support at 5/8 to the downside. After that, the instrument may continue falling towards 3/8.
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, USDCAD is consolidating between 3/8 and 5/8. In this case, the price is expected to break 4/8 and continue growing towards the resistance at 5/8. 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.
