CAD/JPY 4H Chart: Breakout to the north

Source: Dukascopy Bank SA

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

The Canadian Dollar started gaining momentum against the Japanese Yen after a long period of decline since it touched the high at 91.58. 

The CAD/JPY pair is moving upwards to test the 50.00% Fibonacci retracement level at the time of analyzing. The retracement can be measured by connecting the high level at 91.58 touched January 4, with the January 30 low level at 87.81, where the 0.00% is the high and 100.00% is the low. 

Technical indicators are all giving mixed signal. Although, the 200—hour simple moving average was providing support at 89.08. if this support line manage to hold, the pair might find resistance at 89.79 .

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