Indicator | 4H | 1D | 1W |
MACD (12; 26; 9) | Buy | Buy | Buy |
RSI (14) | Neutral | Sell | Neutral |
Stochastic (5; 3) | Sell | Sell | Sell |
Alligator (13; 8; 5) | Buy | Buy | Buy |
SAR (0.02; 0.2) | Buy | Buy | Buy |
Aggregate | ⇗ | ⇒ | ⇗ |
The Loonie recently made great gains against the Japanese yen. In most part the gains can be accredited to the recent political turmoil on the Korean Peninsula, which has decreased the value of the Yen. It occurred due to the Japanese currency losing some of its safe currency reputation.
In regards to the technical perspective on the CAD/JPY pair, one can see that an ascending triangle has formed in the middle of a medium term channel up pattern. Due to that reason it can be expected that the pair will reach for the 92.05 mark, where the weekly R1 is located at first.
Afterwards, it is highly likely that a breakout to the upside will occur.