CAD/JPY 4H Chart: Trading sideways

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

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




After reaching the four month high of 91.58, since the first week of January 2018 the Canadian Dollar continued to lose strength against the Japanese Yen.

The pair breached the dotted line, and a breakout occurred to the south. In the four-hour time frame the pair continued to move sideways because of the 200-hour simple moving average, which was providing support at 88.75.

After reaching the 61.80% Fibonacci retracement level the Canadian Dollar was slowly moving upwards. The retracement can be measured by connecting the high level of 91.57 touched in January and with the November low level of 86.76, where the 0.00% level is the high and 100.00% is the November low.

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