USDJPY, “US Dollar vs. Japanese Yen”
In the H4 chart, USDJPY is trading above the 200-day Moving Average, thus indicating an ascending tendency. In this case, the price is expected to break 6/8 and then continue growing towards the resistance at 8/8. However, this scenario may no longer be valid if the price breaks 5/8 to the downside. After that, the instrument may move downwards to reach the support at 4/8.
As we can see in the M15 chart, the pair has broken the upside line of the VoltyChannel indicator and, as a result, may continue moving upwards.
USDCAD, “US Dollar vs Canadian Dollar”
As we can see in the H4 chart, USDCAD is moving below 3/8 outside the consolidation range. In this case, the price is expected to break 2/8 and then continue falling towards the support at 1/8. Still, this scenario may no longer be valid if the price breaks 3/8 to the upside. After that, the instrument may correct to reach the resistance at 4/8.
In the M15 chart, the pair may break the downside line of the VoltyChannel indicator again and, as a result, continue trading downwards.
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