The Canadian Dollar has strengthened against the Japanese Yen since late June. This upside movement has sent the pair to move from the lower boundary of a medium-term ascending pattern to its upper line and the weekly pivot point located near the 85.06 mark.
During this period of surged, the exchange rate price has moved past the 55-, 100-, and 200– hour SMAs. Technical indicators suggest that the bullish sentiment is likely to continue during the following trading sessions. If this bullish momentum continues, a breakout through the upper boundary of a channel down could be expected within the coming days.
