USD/JPY, “US Dollar vs. Japanese Yen”
As we can see in the H4 chart, after breaking the 200-day Moving Average again, USDJPY is trading below it, thus indicating a descending tendency. In this case, the price is expected to test 2/8, break it, and continue falling to reach the support at 0/8. However, this scenario may no longer be valid if the price breaks 3/8 to the upside. After that, the instrument may reverse and grow towards the resistance at 5/8.
In the M15 chart, the pair may break the downside line of the VoltyChannel indicator and, as a result, continue falling.
USD/CAD, “US Dollar vs Canadian Dollar”
In the H4 chart, after breaking 8/8, USDCAD is no longer trading within the “overbought area”. In this case, the price is expected to break 7/8 and continue falling towards the support at 6/8. Still, this scenario may no longer be valid if the price breaks the resistance at 8/8 to the upside. After that, the instrument may grow to reach +1/8.
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.
Before you enter foreign exchange and stock markets, you have to remember that trading currencies and other investment products is trading in nature and always involves a considerable risk. As a result of various financial fluctuations, you may not only significantly increase your capital, but also lose it completely. Therefore, our clients have to assure RoboForex that they understand all the possible consequences of such risks, they know all the specifics, rules and regulations governing the use of investment products, including corporate events, resulting in the change of underlying assets. Client understands that there are special risks and features that affect prices, exchange rates and investment products.