(Last Updated March 5, 2021 23:17 GMT)
At the moment, CADJPY’s rate is up 370 pips (0.04%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved down. As for the trend on the hourly timeframe, we see the clearest trend on the 20 hour timeframe. 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 69 pips (0.82%) since the day prior (opening today near 85.194), marking the 2nd consecutive day it has gone up. Out of the 39 instruments in the Forex asset class, CADJPY ended up ranking 8th for the day in terms of price change. Here is a price chart of CADJPY.
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. The clearest trend exists on the 30 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 up 9 them.