(Last Updated May 3, 2021 2:16 GMT)
Currently, CADJPY’s rate is up 900 pips (0.1%) 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 50 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 25 pips (0.28%) since the day prior (opening today near 88.915), marking the 6th consecutive day it has gone up. Relative to other instruments in the Forex asset class, CADJPY ranked 11th the day prior in terms of percentage price change. The price chart of CADJPY below illustrates.
CADJPY Technical Analysis
Notably, the current price of CADJPY is sitting close to its 20 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving up. For additional context, note that price has gone up 7 out of the past 10 days.