| Indicator | 4H | 1D | 1W |
| MACD (12; 26; 9) | Buy | Sell | Buy |
| RSI (14) | Neutral | Neutral | Neutral |
| Stochastic (5; 3) | Buy | Sell | Sell |
| Alligator (13; 8; 5) | Buy | Sell | Buy |
| SAR (0.02; 0.2) | Buy | Sell | Buy |
| Aggregate | ⇗ | ⇘ | ⇒ |
The Canadian Dollar is recovering against the Japanese Yen in a short-term ascending channel that formed in the result of a change of the one month long downtrend. At the moment, the pattern consists from two reaction lows and only one reaction high. Since there will be no significant macroeconomic data releases in the upcoming two days, the currency pair has a potential to surge to the weekly R1 located at the 87.43 level.
On the other hand, the fact the pair has, practically, stuck for a day at the 200-hour SMA near 86.77 suggests that the channel might not sustain for long. This assumption is supported by the general market sentiment, which is 55% bearish.
But in the meantime, a summary of various technical indicators continue to send a strong buy signal.