| Indicator | 4H | 1D | 1W |
| MACD (12; 26; 9) | Buy | Sell | Sell |
| RSI (14) | Sell | Neutral | Buy |
| Stochastic (5; 3) | Sell | Sell | Sell |
| Alligator (13; 8; 5) | Buy | Neutral | Sell |
| SAR (0.02; 0.2) | Buy | Buy | Sell |
| Aggregate | ⇘ | ⇘ | ⇘ |
The Canadian Dollar has been trading in a dominant channel down against the Japanese Yen. However, the currency pair has started retracing north in a newly-formed ascending channel. The rate bounced off the lower boundary of the junior pattern on March 19 and has since surged.
The CAD/JPY currency pair has moved closer to the upper border of the ascending trend-line and could be set for a breakout during the following trading hours.
If the aforementioned breakout occurs, the currency exchange rate could start a new wave up in the two-channel ascending pattern. However, the price movement is likely to encounter a resistance cluster set by the weekly and the monthly PPs near the 83.89 area.