| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Sell | Buy | Buy |
| RSI(14) | Buy | Neutral | Sell |
| Stochastic(5;3;3) | Buy | Neutral | Neutral |
| Alligator(13;8;5) | Sell | Neutral | Buy |
| SAR(0.02;0.2) | Sell | Sell | Buy |
| Aggregate | ⇒ | ⇒ | ⇗ |
The Canadian Dollar has declined by 206 pips or 2.26% against the Japanese Yen since the beginning of June. The currency pair breached the 50– and 200– hour SMAs during this week's trading sessions.
As for the near future, the CAD/JPY exchange rate could continue to decline. Bearish traders are likely to target the 88.00 level during the following trading sessions.
However, the weekly support level at 89.17 could provide support for the currency exchange rate in the shorter term.