USDJPY quotes are below the 200-day Moving Average on H4, indicating the prevalence of a downtrend. The RSI is nearing the resistance line. As a result, a test of 3/8 (149.21) is expected, followed by a rebound from it and a decline to the support at 1/8 (147.65). The scenario can be cancelled by rising above 3/8 (149.21). In this case, the corrective growth of the pair could continue, and the quotes could reach the 4/8 (150.00) level.
On M15, after a rebound from 3/8 (149.21), a breakout of the lower boundary of the VoltyChannel could serve as an additional signal confirming the price decline.
USDCAD, “US Dollar vs Canadian Dollar”
USDCAD quotes are on the 200-day Moving Average, which indicates no trend at all. The RSI has rebounded from the support line. In this situation, the quotes are expected to rise above 1/8 (1.3732), subsequently growing to the resistance at 2/8 (1.3793). The scenario can be cancelled by a downward breakout of 0/8 (1.3671), in which case the pair might drop to the support at -1/8 (1.3610).
On M15, a breakout of the upper boundary of the VoltyChannel could increase the probability of the price rise.
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.