CAD/JPY 4H Chart: Upside potential likely to prevail - Trade Pattern Ideas - Dukascopy Bank
Wed, 06 Nov 2019 06:52:44 GMT
Source: Dukascopy Bank SA
Indicator
4H
1D
1W
MACD(12;26;9)
Buy
Buy
Buy
RSI(14)
Neutral
Neutral
Neutral
Stochastic(5;3;3)
Neutral
Neutral
Neutral
Alligator(13;8;5)
Buy
Buy
Buy
SAR(0.02;0.2)
Buy
Sell
Buy
Aggregate
⇗
⇒
⇗
The CAD/JPY currency exchange rate traded downwards during last week's trading sessions after it reversed south from a psychological resistance level at the 83.50 regions.
It is important to note that the currency pair is pressured by the 200– period simple moving average, currently located at the 81.82 area. Thus, it is likely that bullish traders could continue to prevail in the market within this week's trading sessions.
However, if the resistance level, formed by the weekly R1 at 83.30 holds, a reversal north could likely follow.
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