(Last Updated April 27, 2021 2:17 GMT)
Currently, CADJPY’s rate is down -130 pips (-0.01%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved up. As for the trend on the hourly timeframe, we see the clearest trend on the 100 hour timeframe. Price action traders may also wish to note that we see a pin bar candlestick pattern on CADJPY. Given that we see an uptrend on the 20 and 10 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 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)
CADJPY is up 81 pips (0.94%) since the day prior (opening today near 87.27), marking the 2nd straight day an upward move has occurred. Out of the 39 instruments in the Forex asset class, CADJPY ended up ranking 3rd for the day in terms of price change. Below is a price chart of CADJPY.
CADJPY Technical Analysis
First things first: CADJPY crossed above 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 30 days CADJPY’s price has gone down 17 them.