| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Sell | Sell | Sell |
| RSI(14) | Neutral | Neutral | Neutral |
| Stochastic(5;3;3) | Neutral | Buy | Neutral |
| Alligator(13;8;5) | Sell | Sell | Sell |
| SAR(0.02;0.2) | Buy | Sell | Buy |
| Aggregate | ⇒ | ⇘ | ⇒ |
The Canadian Dollar has been depreciating against the Japanese Yen since the beginning of March. This movement has been bounded in the descending channel.
As apparent on the chart, the CAD/JPY currency pair has already reversed north. From a theoretical perspective, the exchange rate should reach the upper channel line located circa 83.50 in the nearest future. If given channel holds, the pair reverses south and continues to trade within given trend.
Otherwise, it is likely that a breakout north occurs within the following sessions. However, important resistance level to look out for is the monthly PP at 83.89.