CAD/JPY 1H Chart: Channel Up

Source: Dukascopy Bank SA

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

If one looks at the charts, which involved the Canadian Dollar, first thing one notices is the massive jump of the Loonie against anything else. That is the jump of the unexpected Bank of Canada rate raise, which was a purely fundamental move. 

Although, the fundamental move did not destroy, but rather helped to map various patterns. For example against the Japanese Yen it can be spotted that the Canadian Dollar will continue to surge in the medium term.

In regards to the short term, one can notice that the currency pair is heading for the first weekly resistance, which is located at the 89.87 mark.

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