USDJPY are above the 200-day Moving Average on H4, indicating the prevalence of an uptrend. The RSI has broken the resistance line. In this situation, the quotes are expected to rise above 8/8 (150.00), from where they might proceed to 1/8 (150.78). The scenario can be cancelled by a rebound from 8/8 (150.00). In this case, the pair could drop to the support at 6/8 (148.43).
On M15, the upper boundary of the VoltyChannel is broken. This fact increases the probability of further price growth.
USDCAD, “US Dollar vs Canadian Dollar”
USDCAD quotes are in the overbought area on H4. The RSI is approaching the resistance line. In this situation, a downward breakout of 1/8 (1.3732) is expected, followed by a decline to the support at 7/8 (1.3610). The scenario can be cancelled by rising above 2/8 (1.3793), which will reshuffle the Murrey indication so that new price targets will be set.
On M15, the decline could be additionally supported by a breakout of the lower boundary of the VoltyChannel.
Attention!
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.