CADJPY Down 3 Pips Over Past Hour, Moves Up For the 4th Straight Day; in an Uptrend Over Past 90 Days

Hourly Update

(Last Updated April 29, 2021 2:17 GMT)

At the time of this writing, CADJPY’s rate is down -340 pips (-0.04%) from the hour prior. The hourly chart shows that CADJPY has seen 2 straight down hours. As for the trend on the hourly timeframe, we see the clearest trend on the 20 hour timeframe. Price action traders may also wish to note that we see a doji candlestick pattern on CADJPY. Given that we see an uptrend on the 20 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. 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 52 pips (0.59%) since the previous day (opening today near 88.178), marking the 4th straight day it has gone up. Compared to its peers in the Forex, CADJPY gave its buyers a return that ranked 4th in terms of percentage change since the previous day. The price chart of CADJPY below illustrates.

CADJPY

CADJPY Technical Analysis

Coming into today the current price of CADJPY is sitting close to its 20 and 50 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. Price action traders in particular will want to note that the 30 day period appears to show price forming a base; this could indicate that a support/resistance level is developing. For additional context, note that price has gone down 17 out of the past 30 days.