(Last Updated March 23, 2021 0:17 GMT)
At the time of this writing, CADJPY’s rate is down -150 pips (-0.02%) from the hour prior. The hourly chart shows that CADJPY has seen 2 straight down hours. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 100 hour timeframe. 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 1 pips (0.01%) since the previous day (opening today near 87.199), marking the 2nd day in a row a decline has happened. Compared to its peers in the Forex, CADJPY gave its buyers a return that ranked 22nd in terms of percentage change since the previous day. Let’s take a look at price chart of CADJPY.
CADJPY Technical Analysis
The first thing we should note is that CADJPY is now close to its 20 day averages, located at 85.6504 respectively, and thus may be at a key juncture along those timeframes. The clearest trend exists on the 30 day timeframe, which shows price moving up over that time. Or to simplify this another way, note that out of the past 14 days CADJPY’s price has gone up 9 them.