Article By RoboForex.com
USDJPY, “US Dollar vs Japanese Yen”
On H4, the quotes have reached the overbought area. We should expect a bounce off 8/8 and subsequent falling to the nearest support level of 7/8. The scenario can be cancelled by rising over the resistance level of +1/8, in which case growth will continue so that the quotes might reach +2/8.
On M15, the lower line of VoltyChannel is too far away from the current price, so falling can be signaled by just a bounce off 8/8 on H4.
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USDCAD
The situation on the USDCAD chart is similar to that on the previous chart. On H4, the quotes have reached the overbought area. We expect a bounce off 8/8 and subsequent falling to the support level of 6/8. The scenario can be cancelled by rising over the resistance level of +1/8. This will push the price further upwards to +2/8.
On M15, the lower line of VoltyChannel is too far away from the current price, so falling can be signaled by just a bounce off 8/8 on H4.
Article By RoboForex.com
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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.
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