(Last Updated March 9, 2021 23:17 GMT)
Currently, CADJPY’s rate is down -120 pips (-0.01%) from the hour prior. CADJPY has seen its price go down 4 out of the past 5 hours, thus creating some compelling opportunities for bears. Regarding the trend, note that the strongest trend exists on the 20 hour timeframe. 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 44 pips (0.52%) since the previous day (opening today near 86.073), marking the 4th consecutive day an increase has occurred. Out of the 39 instruments in the Forex asset class, CADJPY ended up ranking 9th for the day in terms of price change. Here is a price chart of CADJPY.
CADJPY Technical Analysis
Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving up. Or to simplify this another way, note that out of the past 14 days CADJPY’s price has gone up 9 them.