(Last Updated October 15, 2021 1:16 GMT)
At the moment, CADJPY’s rate is up 820 pips (0.09%) from the hour prior. The hourly chart shows that CADJPY has seen 2 straight up hours. Regarding the trend, note that the strongest trend exists on the 20 hour timeframe. The moving averages on the hourly timeframe suggest a choppiness in price, as the 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 up 2 pips (0.02%) since yesterday (opening today near 91.059), marking the 5th consecutive day it has gone up. Out of the 39 instruments in the Forex asset class, CADJPY ended up ranking 20th for the day in terms of price change. The price chart of CADJPY below illustrates.
CADJPY Technical Analysis
As for the alignment of the moving averages, well, it’s a bit mixed up; the 20, 50, 100, and 200 do not progress from largest to smallest, or vice versa. The closest is the 100 day average, which is 278.2 pips away. Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving up. For additional context, note that price has gone up 8 out of the past 10 days.