(Last Updated April 6, 2021 2:17 GMT)
At the time of this writing, CADJPY’s rate is up 230 pips (0.03%) from the hour prior. This move is a reversal from the hour prior, which saw price move down. Regarding the trend, note that the strongest trend exists on the 100 hour timeframe. Most noteworthy in the world of moving averages on the hourly chart is that the 50 hour moving average has been crossed, so that price is now turning above it. The moving averages on the hourly timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 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 is down 16 pips (0.18%) since yesterday (opening today near 88), marking the 3rd day in a row a decline has happened. Compared to its peers in the Forex, CADJPY gave its buyers a return that ranked 28th in terms of percentage change since yesterday. The price chart of CADJPY below illustrates.
CADJPY Technical Analysis
Coming into today CADJPY is now close to its 20 day moving averages, which may act as price barrier for the asset. Volatility for CADJPY has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. For additional context, note that price has gone up 17 out of the past 30 days.