| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Sell | Buy | Buy |
| RSI(14) | Neutral | Neutral | Neutral |
| Stochastic(5;3;3) | Neutral | Neutral | Neutral |
| Alligator(13;8;5) | Sell | Neutral | Buy |
| SAR(0.02;0.2) | Buy | Sell | Sell |
| Aggregate | ⇒ | ⇒ | ⇒ |
The Canadian Dollar has declined by 3.15% against the Japanese Yen since the beginning of April. The currency pair breached the 50– and 200– period SMAs during last week's trading sessions.
The exchange rate bounced off the lower line of an ascending channel pattern at 85.50 during yesterday's trading session. Most likely, the CAD/JPY pair could continue to edge higher this week.
However, the upper line of a junior descending channel pattern and the 50– period simple moving average at 86.68 could provide resistance for the currency exchange rate in the shorter term.