USDJPY, “US Dollar vs Japanese Yen”
On H4, the quotes are above the 200-day Moving Average, revealing the prevalence of an uptrend. The RSI is testing the support line. In this situation, the price is expected to rise above 6/8 (134.37) and next reach the resistance at 7/8 (135.93). The scenario can be canceled by a downward breakout of the support at 5/8 (132.81), which could lead to a trend reversal and a decline to the level of 4/8 (131.25).
On M15, price growth can be additionally supported by a breakout of the upper line of the VoltyChannel indicator.
USDCAD, “US Dollar vs Canadian Dollar”
On H4, the quotes are nearing the level of 8/8 (1.3671), which is resistance to the price and the lower border of the overbought area. The RSI is in its own overbought area. In these circumstances, a test of 8/8 (1.34671) is expected, followed by a rebound from it and falling to the support at 7/8 (1.3549). The scenario can be canceled by an upwards breakout of 8/8 (1.3671). In this case, the pair could go on growing and reach the resistance at 1/8 (1.3793).
On M15, after a rebound from 8/8 (1.3671), further falling of the quotes can be additionally confirmed by a breakout of the lower 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.