Article By RoboForex.com
USD/JPY
The H4-chart of USD/JPY pair shows the price moving within a channel formed by 5/8 and 3/8 levels. A rise of the price from 3/8 level (111.71) to 5/8 (113.28) is expected. If it reaches 5/8 level, it can move higher towards 8/8 (115.62).
The H1 chart shows that if the price manages to hold above 3/8 level (112.10), it can develop an ascending trend and move towards the 1st target at 113.28.
A breakout of the upper line of VoltyChannel indicator on the M15 chart can trigger an uptrend.
USD/CAD
Free Reports:
The USD/CAD pair on the H4 chart holds within a buying area near -1/8 level. If the 0/8 level (1.2695) is broken, this will clear the way for another rising impulse towards 3/8 level (1.3061).
The H1 chart shows that the price holds at the support level -1/8 (1.2634). If the price holds above 1.2634, it can rise higher towards 0/8 level (1.2695) and then can break this level to move even higher to reach 1.3061.
Looking at the M15 chart we expect a breakout of VoltyChanel line. If this happens, the price can move higher towards 1.3061.
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.