(Last Updated March 26, 2021 1:17 GMT)
At the time of this writing, CADJPY’s rate is up 170 pips (0.02%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved down. Regarding the trend, note that the strongest trend exists on the 50 hour timeframe. Of note is that the 20 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 4 down days, CADJPY snaps its streak, rising 29 pips (0.34%) over the past day to close at an exchange rate of 86.464. Out of the 39 instruments in the Forex asset class, CADJPY ended up ranking 4th for the day in terms of price change. 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 30 day timeframe, which shows price moving up over that time. For additional context, note that price has gone up 8 out of the past 14 days.