Article By RoboForex.com
USDJPY, “US Dollar vs. Japanese Yen”
In the H4 chart, USDJPY is trading within the “overbought area”. In this case, the price is expected to test +1/8, rebound from it, and then resume falling to reach the support at 8/8. However, this scenario may no longer be valid if the price breaks the resistance at +1/8 to the upside. After that, the instrument may continue moving towards +2/8.
As we can see in the M15 chart, the pair has broken the downside line of the VoltyChannel indicator and, as a result, may continue trading downwards.
Free Reports:
USDCAD, “US Dollar vs Canadian Dollar”
As we can see in the H4 chart, USDCAD is also moving inside the “overbought area”; it has already rebounded from the resistance at +1/8. In this case, the price may break 8/8 and then continue falling towards the support at 7/8. On the other hand, this scenario may no longer be valid if the pair breaks the resistance at +1/8 to the upside. After that, the instrument may reverse and move upwards to reach +2/8.
In the M15 chart, the pair may break the downside line of the VoltyChannel indicator and, as a result, continue its decline.
Article By RoboForex.com
Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex LP bears no responsibility for trading results based on trading recommendations described in these analytical reviews.
By JustMarkets On Wednesday, the US indices rose. By the end of the day, the…
By Analytical Department RoboForex EUR/USD has declined steadily, falling to 1.1688 on Thursday. The US…
By JustMarkets On Wednesday, the US markets received a strong impulse from a combination of…
By Analytical Department RoboForex USD/JPY climbed to 159.36 mid-week, with the Japanese yen losing ground…
By Gregor Henze, University of Colorado Boulder and Sean Shaheen, University of Colorado Boulder Many…
By Anne Toomey McKenna, Penn State On a Saturday morning, you head to the hardware…
This website uses cookies.