USDJPY, “US Dollar vs Japanese Yen”
On H4, the quotes are in the overbought area. A breakaway of 8/8 downwards should be expected, followed by a falling to the support level of 6/8. The scenario can be cancelled by rising over the resistance level of 1/8, in which case the growth might continue to 2/8.
On M15, falling can be additionally confirmed by a breakaway of the lower border of VoltyChannel.
USDCAD, “US Dollar vs Canadian Dollar”
On H4, the quotes are nearing the overbought area. A test of 8/8 is expected, a bounce off it, and falling to the support level of 6/8. The scenario can be cancelled by rising over the resistance level of 8/8. This will catalyse growth to 1/8.
On M15, a breakaway of the lower border of VoltyChannel will increase the probability of falling to 6/8 on H4.
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.