CADJPY Down 15 Pips Over Past Hour, Entered Today Up For the 6th Straight Day; is Inching Close to 20 Day Average

Hourly Update

(Last Updated January 4, 2021 2:17 GMT)

At the time of this writing, CADJPY’s rate is down -1540 pips (-0.19%) from the hour prior. CADJPY has seen its price go up 8 out of the past 10 hours, thus creating some compelling opportunities for bulls. As for the trend on the hourly timeframe, we see the clearest trend 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 8 pips (0.1%) since the previous day (opening today near 80.936), marking the 6th straight day an increase has occurred. Out of the 40 instruments in the Forex asset class, CADJPY ended up ranking 20th for the day in terms of price change. Below is a price chart of CADJPY.

CADJPY

CADJPY Technical Analysis

Coming into today the current price of CADJPY is sitting close to its 20, 50, 100 and 200 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 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.