(Last Updated March 26, 2021 23:17 GMT)
At the time of this writing, CADJPY’s rate is up 170 pips (0.02%) from the hour prior. This move is a reversal from the hour prior, which saw price move down. As for the trend on the hourly timeframe, we see the clearest trend on the 100 hour timeframe. Of note is that the 20 hour changed directions on CADJPY; it is now pointing down. 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 18 pips (0.21%) since yesterday (opening today near 86.647), marking the 2nd consecutive day an increase has occurred. Out of the 39 instruments in the Forex asset class, CADJPY ended up ranking 19th for the day in terms of price change. Let’s take a look at price chart of CADJPY.
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. Volatility for CADJPY has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. The clearest trend exists on the 30 day timeframe, which shows price moving up over that time. For additional context, note that price has gone up 8 out of the past 14 days.
The View From Around the Web
Of note is that traders in aggregate have opinions on CADJPY, with 5 buy signals on our radar and 0 sell signals. This imputes a buy/sell ratio that’s infinite! But, let’s not get carried away with that idea just yet. 🙂 Here’s a piece we found on tradingview.com that we thought you might enjoy.