CAD/JPY 4H Chart: Potential breakout

Note: This section contains information in English only.
Source: Dukascopy Bank SA

Indicator 4H 1D 1W
MACD (12; 26; 9) Buy Sell Buy
RSI (14) Neutral Neutral Neutral
Stochastic (5; 3) Sell Neutral Neutral
Alligator (13; 8; 5) Buy Sell Buy
SAR (0.02; 0.2) Buy Sell Buy
Aggregate

The CAD/JPY currency pair has been trading in a descending channel pattern since the beginning of October. This channel was formed when the pair made a U-turn from the upper boundary of a long-term ascending channel at 89.00 on October 3.

The exchange rate is trading near the upper boundary of the channel pattern at 86.18 during the morning hours of Wednesday's session.

If the currency exchange rate passes that upper border, the next for bullish traders will be at a swing high of 87.50.

However, a resistance cluster formed by the combination of the weekly, the monthly and the 200-hour SMA at 86.53 could hinder the price from reaching the target today.

Actual Topics

Subscribe to "Fundamental Analysis" feed

Subscribe
Aby dowiedzieć się więcej o handlu Forex/CFD na platformie Dukascopy Banku, rynku SWFX oraz innych rzeczy związanych z handlem,
zadzwoń do nas lub poproś o oddzwonienie.
For further information regarding potential cooperation,
please call us or make callback request.
Aby dowiedzieć się więcej o Opcjach Binarnych w Banku Dukascopy / platformach handlowych Forex, SWFX, oraz innych,
zadzwoń do nas lub pozostaw prośbę o oddzwonienie.
Aby dowiedzieć się więcej o handlu Forex/CFD na platformie Dukascopy Banku, rynku SWFX oraz innych rzeczy związanych z handlem,
zadzwoń do nas lub poproś o oddzwonienie.
To learn more about Crypto Trading / CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Business Introducer and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.