USDJPY, “US Dollar vs Japanese Yen”
On H4, the quotes are under the 200-day Moving Average, revealing prevalence of a downtrend. The RSI has broken through the support line. As a result, a bounce off 4/8 (131.25) is expected, followed by falling to the support level of 2/8 (128.12). The scenario can be cancelled by rising over the resistance level of 5/8 (132.81), which might lead to a trend reversal and growth to 6/8 (134.37).
On M15, the lower line of VoltyChannel is broken away. This indicates prevalence of a downtrend and a high probability of further price falling.
USDCAD, “US Dollar vs Canadian Dollar”
On H4, USDCAD quotes are also under the 200-day Moving Average, revealing prevalence of a downtrend. The RSI is testing the support level. A downward breakaway of 3/8 (1.3366) should be expected, followed by falling to the support level of 2/8 (1.3305). The scenario can be cancelled by rising over the resistance level of 4/8 (1.3427). This might lead to a trend reversal and make the pair grow to 6/8 (1.3549).
On M15, the lower line of VoltyChannel is broken away, which increases the probability of further price falling.
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.