(Last Updated July 13, 2021 1:15 GMT)
Currently, CADJPY’s rate is up 270 pips (0.03%) from the hour prior. This move is a reversal from the hour prior, which saw price move down. As for the trend on the hourly timeframe, we see the clearest trend on the 20 hour timeframe. The moving averages on the hourly timeframe suggest a choppiness in price, as the are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.
CADJPY End of Day Recap
Updated 00:30 GMT (04:30 EST)
CADJPY, which opened today priced near 88.426, is up 77 pips 0.87% since the day prior, marking a reversal from the day prior — and the end of a 4 day negative run. Compared to its peers in the Forex, CADJPY gave its buyers a return that ranked 4th in terms of percentage change since the day prior. The price chart of CADJPY below illustrates.
CADJPY Technical Analysis
First things first: CADJPY crossed above its 100 day moving average yesterday. As for the alignment of the moving averages, well, it’s a bit mixed up; the 20, 50, 100, and 200 do not progress from largest to smallest, or vice versa. The closest is the 100 day average, which is 17.8 pips away. Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving down. Interestingly, a trend in the other direction exists on the 90 day timeframe, where price is headed up. Or to simplify this another way, note that out of the past 14 days CADJPY’s price has gone up 7 them.