USDJPY, “US Dollar vs Japanese Yen”
On H4, the quotes have broken through the 200-day Moving Average and are now below it, which indicates possible development of a downtrend. However, the RSI is nearing the oversold area. As a result, we should currently expect a bounce off 5/8 (145.31) and growth to the resistance level of 7/8 (148.43). The scenario can be cancelled by a downward breakaway of the support level of 5/8 (145.31), in which case the pair will continue falling and might reach 3/8 (142.18).
On M15, a breakaway of the upper border of VoltyChannel will increase the probability of price growth.
USDCAD, “US Dollar vs Canadian Dollar”
The situation with USDCAD is similar. On H4, the quotes have broken through the 200-day Moving Average and are now below it, while the RSI is nearing the oversold area. In this situation, we expect a test of 3/8 (1.3549), a breakaway of it, and growth to the resistance level of 4/8 (1.3671). The scenario can be cancelled by a downward breakaway of the support level of 2/8 (1.3427). In this case, the pair will continue going down and might reach 1/8 (1.3305).
On M15, an additional signal confirming the price growth will be a breakaway of the upper border of VoltyChannel.
Source: Roboforex
