USD/JPY, “US Dollar vs. Japanese Yen
The price of the USD/JPY is below its 200-day moving average on the H4 chart, indicating that a bearish trend may be imminent. The RSI is approaching the resistance line. As a result, a test of the 3/8 level (149.21) is expected, followed by a bounce and a decline to the 1/8 support (147.65). The scenario can be canceled with a break above 3/8 (149.21). In this case, the corrective growth of the pair could continue and the quotes could reach the 4/8 level (150.00).
On the M15, after a rebound from 3/8 (149.21), a break of the lower border of the VoltyChannel could serve as an additional signal to confirm the price decline.
USD/CAD, US Dollar versus the Canadian Dollar
The price of the USD/CAD sits on its 200-day moving average, which does not indicate a trend. The RSI has bounced off the support line. In this situation, we expect the price to rise above 1/8 (1.3732) and then rise to the resistance at 2/8 (1.3793). The scenario can be canceled by a downward break of 0/8 (1.3671), in which case the pair could fall to the support at -1/8 (1.3610).
On the M15, a breach of the upper border of the channel may increase the probability of an upward movement.
