CAD/JPY Down 6 Pips On Hourly Chart, Came Into Today Down For the 3rd Consecutive Day; Breaks Below 20 Day Average

Hourly Update

(Last Updated May 10, 2022 1:38 GMT)

Currently, CADJPY’s rate is down -560 pips (-0.06%) from the hour prior. This move is a reversal from the hour prior, which saw price move up. As for the trend on the hourly timeframe, we see the clearest trend on the 50 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 down 87 pips (0.86%) since yesterday (opening today near 100.245), marking the 3rd consecutive day it has gone down. Relative to other instruments in the Forex asset class, CADJPY ranked 32nd yesterday in terms of percentage price change. Here is a price chart of CADJPY.

CADJPY

CADJPY Technical Analysis

First things first: CADJPY crossed below its 20 day moving average yesterday. The clearest trend exists on the 90 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 down 9 them.