CADJPY Up 2 Pips in Last Hour, in an Uptrend Over Past 30 Days; Nears 20 Day Moving Average

Hourly Update

(Last Updated November 5, 2021 23:15 GMT)

At the time of this writing, CADJPY’s rate is up 230 pips (0.03%) 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 50 hour timeframe. The moving averages on the hourly timeframe suggest a choppiness in price, as the 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 entered today at 92.076, up 23 pips (0.25%) from yesterday. Relative to other instruments in the Forex asset class, CADJPY ranked 16th yesterday in terms of percentage price change. Below is a price chart of CADJPY.

CADJPY

CADJPY Technical Analysis

Notably, CADJPY is now close to its 20 day moving averages, which may act as price barrier for the asset. 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. Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving up. Or to simplify this another way, note that out of the past 10 days CADJPY’s price has gone up 5 them.