(Last Updated May 6, 2021 3:17 GMT)
At the moment, CADJPY’s rate is up 1090 pips (0.12%) from the hour prior. The hourly chart shows that CADJPY has seen 3 straight up hours. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 100 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)
The choppiness in the recent daily price action of CADJPY continues; to start today, it came in at a price of 89.032, up 18 pips (0.2%) since yesterday. Relative to other instruments in the Forex asset class, CADJPY ranked 13th yesterday in terms of percentage price change. Below is a price chart of CADJPY.
CADJPY Technical Analysis
Notably, the current price of CADJPY is sitting close to its 20 and 50 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. Or to simplify this another way, note that out of the past 30 days CADJPY’s price has gone up 15 them.