USDJPY, “US Dollar vs. Japanese Yen”
As we can see in the H4 chart, USDJPY is trading above the 200-day Moving Average, thus indicating a possible ascending tendency; right now, the asset is rebounding from the resistance at 8/8. In this case, the price is expected to correct down to the support at 6/8. However, this scenario may no longer be valid if the price breaks 8/8 to the upside. After that, the instrument may reverse and grow towards the resistance at +2/8.
In the M15 chart, the pair may break the downside line of the VoltyChannel indicator and, as a result, continue falling.
USDCAD, “US Dollar vs Canadian Dollar”
As we can see in the H4 chart, after rebounding from the 200-day Moving Average, USDCAD is trading above it, thus indicating an ascending tendency. In this case, the price is expected to continue growing towards the resistance at 5/8. Still, this scenario may no longer be valid if the price breaks 4/8 to the downside. After that, the instrument may reverse and move downwards to reach the support at 3/8.
In the M15 chart, the pair may break the upside line of the VoltyChannel indicator and, as a result, continue trading upwards to reach 5/8 in the H4 chart.
Source: Roboforex
