| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Buy | Buy | Sell |
| RSI(14) | Neutral | Neutral | Neutral |
| Stochastic(5;3;3) | Neutral | Neutral | Neutral |
| Alligator(13;8;5) | Buy | Buy | Neutral |
| SAR(0.02;0.2) | Buy | Buy | Buy |
| Aggregate | ⇗ | ⇗ | ⇒ |
The CAD/JPY exchange rate has been trading within a rising wedge pattern since the middle of June.
From a theoretical point of view, it is likely that the currency pair could continue to trade within the given pattern until the beginning of August. Then, a breakout south could follow, and the pair could target the psychological level at 75.00.
Meanwhile, note that the exchange rate is supported by the 55-, 100– and 200-hour moving averages. Thus, it is likely that a breakout north could occur, and the rate could target the Fibo 50.00% at 82.81.