CAD/JPY 4H Chart: Trades near resistance cluster at 86.66 - Trade Pattern Ideas - Dukascopy Bank
Wed, 19 Sep 2018 06:25:27 GMT
Source: Dukascopy Bank SA
Indicator
4H
1D
1W
MACD (12; 26; 9)
Buy
Buy
Sell
RSI (14)
Sell
Neutral
Neutral
Stochastic (5; 3)
Sell
Sell
Neutral
Alligator (13; 8; 5)
Buy
Buy
Neutral
SAR (0.02; 0.2)
Buy
Buy
Buy
Aggregate
⇒
⇗
⇒
The Canadian Dollar has increased its trading range against the Japanese Yen. The currency pair bounced off from the lower boundary of a junior ascending channel at 83.70 on September 8 and had since reached near the upper border of the junior channel pattern.
Currently, the exchange rate is trading near a resistance cluster formed by the monthly and the weekly PPs at 86.66.
If the resistance level as mentioned earlier holds, the CAD/JPY currency exchange rate could make a brief retracement towards a support cluster set by the weekly pivot point and the 50-hour simple moving average at 85.44.
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