| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Buy | Buy | Sell |
| RSI(14) | Neutral | Sell | Neutral |
| Stochastic(5;3;3) | Neutral | Neutral | Sell |
| Alligator(13;8;5) | Buy | Buy | Neutral |
| SAR(0.02;0.2) | Sell | Buy | Buy |
| Aggregate | ⇒ | ⇗ | ⇒ |
The Canadian Dollar has been appreciating against the Japanese Yen since he beginning of December after the CAD/JPY currency pair reversed north from the upper boundary of the long-term ascending channel at 81.80.
Currently, the exchange rate is testing the resistance level formed by the monthly R1 at 83.35. From a theoretical point of view, it is likely that some upside potential could continue to prevail in the market, and the rate could reach the monthly R2 at 84.14.
However, if the given resistance level holds, it is likely that the expected advance might not be immediate, and the currency pair could re-test the lower channel line. It is unlikely that bears could prevail, and the rate could drop lower than the monthly S1 at 81.52.