| Indicator | 4H | 1D | 1W |
| MACD (12; 26; 9) | Sell | Buy | Buy |
| RSI (14) | Neutral | Neutral | Neutral |
| Stochastic (5; 3) | Sell | Sell | Sell |
| Alligator (13; 8; 5) | Sell | Buy | Buy |
| SAR (0.02; 0.2) | Sell | Sell | Buy |
| Aggregate | ⇓ | ⇒ | ⇗ |
The Canadian Dollar has depreciated slightly against the Japanese Yen during the past trading weeks. The pair is currently trading in two opposing channels simultaneously.
Despite reaching the lower boundary of the junior channel on Monday, the Loonie has failed to initiate a new wave up. This was caused by a strong resistance of the 55-hour SMA which has managed to restrict the rate since last Thursday.
If the rate succeeds at surpassing this resistance, it is likely to test the 200-hour SMA circa 90.70 or try to edge even higher towards the upper boundary of the junior pattern.
Conversely, the resistance set by the 55-hour SMA could hold the rate, thus pressuring the Canadian Dollar to move sideways between this level and the monthly PP at 89.82. This scenario suggest that the junior channel would no longer be able to limit the pair from further decline.