| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Buy | Buy | Sell |
| RSI(14) | Neutral | Sell | Neutral |
| Stochastic(5;3;3) | Neutral | Sell | Neutral |
| Alligator(13;8;5) | Buy | Buy | Sell |
| SAR(0.02;0.2) | Sell | Buy | Buy |
| Aggregate | ⇒ | ⇒ | ⇒ |
The Canadian Dollar has been appreciating against the Japanese Yen within the ascending channel since the October. As apparent on the chart, the CAD/JPY exchange rate reversed north from the lower channel line at 81.60.
From a theoretical perspective, it is likely that some upside potential could prevail in the market, as the currency pair should target the upper channel line located in the 85.00 area.
If the given channel holds, it is likely that the exchange rate could continue to trade within it in the medium term. Otherwise, the rate could target the psychological level at 87.00.