USDJPY, “US Dollar vs Japanese Yen”
H4 shows that the quotes are below 200-day Moving Average. This is indicative of a downtrend. The ascending trendline downwards has been broken by the RSI. This means that we can expect a test. 2/8 (140.62), A breakaway, and falling below the support level 1/8 (139.06). (139.06). 3/8 (142.18). In this scenario, the pair might rise to 4/8 (143.75).
The probability of a decrease in M15 will be increased by a breakaway at the lower VoltyChannel Line.
USDCAD, “US Dollar vs Canadian Dollar”
The USDCAD pair has a similar situation. The H4 quotes are below the 200-day Moving Average and the RSI has breached the ascending trendline. Breakaway of 1/8 Expected fall to (1.3305) 0/8 (1.3183). (1.3183). 2/8 (1.3427). The pair might reach this point in this instance. 3/8 (1.3549).
The lower VoltyChannel line is broken off on M15. This is a sign of a downward trend and high likelihood of falling further.
Article By RoboForex.com
Forecasts presented in this section only reflect the author’s private opinion and…