(Last Updated February 11, 2021 1:20 GMT)
At the time of this writing, CADJPY’s rate is up 150 pips (0.02%) from the hour prior. The hourly chart shows that CADJPY has seen 2 straight up hours. If you’re a trader with a preference for rangebound markets, you may wish to note that there isn’t a clear trend on the 20, 50 and 100 hour timeframes. Regarding moving averages, it should first be noted that price has crossed the 50 hour moving average, resulting in them with price now being above it. 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 5 up days, CADJPY snaps its streak, falling 23 pips (-0.28%) over the past day to close at an exchange rate of 82.366. Relative to other instruments in the Forex asset class, CADJPY ranked 29th the day prior in terms of percentage price change. The price chart of CADJPY below illustrates.
CADJPY Technical Analysis
The first thing we should note is that the current price of CADJPY is sitting close to its 20, 50 and 100 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. The clearest trend exists on the 14 day timeframe, which shows price moving up over that time. For additional context, note that price has gone up 20 out of the past 30 days.