(Last Updated January 15, 2021 3:18 GMT)
At the time of this writing, CADJPY’s rate is down -340 pips (-0.04%) from the hour prior. This is the 2nd consecutive hour CADJPY has seen its price head down. As for the trend on the hourly timeframe, we see the clearest trend on the 50 hour timeframe. Regarding moving averages, it should first be noted that price has crossed the 20 hour moving average, resulting in them with price now being below it. The moving averages on the hourly timeframe suggest a bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend.
CADJPY End of Day Recap
Updated 00:30 GMT (04:30 EST)
CADJPY is up 32 pips (0.39%) since the previous day (opening today near 82.11), marking the 3rd consecutive day it has gone up. Out of the 40 instruments in the Forex asset class, CADJPY ended up ranking 10th for the day in terms of price change. Below is a price chart of CADJPY.
CADJPY Technical Analysis
Coming into today the current price of CADJPY is sitting close to its 20, 50 and 100 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. The clearest trend exists on the 14 day timeframe, which shows price moving up over that time. Or to simplify this another way, note that out of the past 10 days CADJPY’s price has gone up 8 them.
The View From Around the Web
We’re seeing some traders come out with interesting conviction on CADJPY, with 4 buy signals on our radar and 2 sell signals. This imputes a buy/sell ratio of 2, which is bullish. Here’s a piece we found on tradingview.com that we thought you might enjoy.