| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Sell | Buy | Buy |
| RSI(14) | Neutral | Neutral | Neutral |
| Stochastic(5;3;3) | Neutral | Neutral | Neutral |
| Alligator(13;8;5) | Sell | Buy | Buy |
| SAR(0.02;0.2) | Buy | Buy | Buy |
| Aggregate | ⇒ | ⇗ | ⇗ |
Since the end of November, the CAD/JPY currency pair has been trading upwards within a rising wedge pattern.
From a theoretical point of view, it is likely that the exchange rate could extend gains within the predetermined pattern until the beginning of March. Then, a breakout south could follow, and the rate could decline to the Fibo 23.60% at 78.44.
Meanwhile, note that the currency pair is supported by the 55-, 100– and 200-period moving averages in the 81.50 area. Thus, some upside potential could continue to prevail in the market.