The situation on the CAD/JPY currency exchange rate is rather hard to evaluate due to various factors. First of all the pair is trading in long term channels, rather than have a distinct short term move. That is most likely due to the fact that the rate recently bounced off a dominant resistance line, and it is still in the process of revealing a junior pattern. Secondly, although the pair is being impacted by the Fibonacci retracement levels of the 2016 low and 2015 high levels, the Canadian Dollar has historically shown that it bounces around the retracement levels against the Yen. Most recently the currency pair found support in the 23.60% retracement only to meet the resistance of the 200-period SMA. All in all, a decline to the Fibo once more can be expected.
| Level | Rationale | Indicator | 4H | 1D | 1W | |||
| R4 | 83.29 | Trend line | MACD (12; 26; 9) | Sell | Sell | Sell | ||
| R3 | 82.74/84 | 55-period SMA; weekly PP | RSI (14) | Neutral | Neutral | Neutral | ||
| R2 | 82.36 | 100-period SMA | Stochastic (5; 3; 3) | Sell | Sell | Sell | ||
| R1 | 82.16 | 200-period SMA | ADX (14) | Buy | Neutral | Neutral | ||
| S1 | 82.02/81.94 | Monthly PP; weekly S1 | CCI (14) | Neutral | Neutral | Neutral | ||
| S2 | 81.18 | Weekly S2 | AROON (14) | Buy | Buy | Buy | ||
| S3 | 81.02 | 23.60% Fibo | Alligator (13; 8; 5) | Sell | Sell | Sell | ||
| S4 | 80.29/26 | Weekly S3; monthly S1 | SAR (0.02; 0.2) | Buy | Sell | Sell | ||
| Aggregate | → | ↘ | ↘ |