(Last Updated June 10, 2021 18:19 GMT)
At the time of this writing, CADJPY’s rate is down -40 pips (0%) 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. From a hourly perspective, the market looks fairly choppy; clear trends aren’t showing up on the 20, 50 and 100 hour timeframes. Of note is that the 50 hour changed directions on CADJPY; it is now pointing down. 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)
After 3 down days, CADJPY snaps its streak, rising 12 pips (0.13%) over the past day to close at an exchange rate of 90.492. Relative to other instruments in the Forex asset class, CADJPY ranked 12th the previous day in terms of percentage price change. Let’s take a look at price chart of CADJPY.
CADJPY Technical Analysis
First things first: CADJPY crossed above its 20 day moving average yesterday. Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving up. Or to simplify this another way, note that out of the past 10 days CADJPY’s price has gone down 6 them.
The View From Around the Web
Of note is that traders in aggregate have opinions on CADJPY, with 1 buy signals on our radar and 5 sell signals. This imputes a buy/sell ratio of 0.2, which is quite bearish. Here’s a piece we found on tradingview.com that we thought you might enjoy.