USDJPY, “US Dollar vs Japanese Yen”
On H4, the quotes are under the 200-day Moving Average, which indicates prevalence of a downtrend. The RSI is testing the resistance line. Currently, we should expect a test of 0/8 (137.50), a breakthrough, and falling to the support level of -1/8 (135.93). The scenario can be cancelled by rising above the resistance level of 1/8 (139.06). In this case, the pair may rise to 3/8 (142.18).
On M15, a breakaway of the lower border of VoltyChannel will increase the probability of falling.
USDCAD, “US Dollar vs Canadian Dollar”
On H4, the quotes have broken through the 200-day Moving Average and are now above it, which indicates possible development of an uptrend. However, the RSI has reached the overbought area. As a result, a downward breakaway of 3/8 (1.3549) is expected, followed by falling to the support level of 2/8 (1.3427). The scenario can be cancelled by rising over the resistance level of 4/8 (1.3671). In this case, the pair may rise to 5/8 (1.3793).
On M15, an additional signal confirming the decline will be a breakaway of the lower line 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.