CAD/JPY 4H Chart: Possible retracement

Note: This section contains information in English only.
Source: Dukascopy Bank SA

Indicator 4H 1D 1W
MACD (12; 26; 9) Sell Sell Buy
RSI (14) Buy Buy Neutral
Stochastic (5; 3) Buy Neutral Sell
Alligator (13; 8; 5) Sell Sell Neutral
SAR (0.02; 0.2) Sell Sell Sell
Aggregate

After reaching the weekly pivot point at 91.62, the Canadian Dollar began to decline against the Japanese Yen. 

The currency exchange rate had breached the lower boundary of a dominant channel where the monthly S3 is located and is slowly moving downwards to test the weekly support at 80.98. 

Regarding the near future, the CAD/JPY pair is likely to continue trading in the junior pattern. However, a reverse north could occur at the aforementioned weekly support. 

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