(Last Updated March 31, 2021 0:17 GMT)
At the moment, CADJPY’s rate is down 10 pips (0%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved up. 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 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 entered today at 87.235, up 60 pips (0.7%) from the day prior. Out of the 39 instruments in the Forex asset class, CADJPY ended up ranking 5th for the day in terms of price change. Here is a price chart of CADJPY.
CADJPY Technical Analysis
Coming into today CADJPY is now close to its 20 day averages, located at 86.4552 respectively, and thus may be at a key juncture along those timeframes. 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. For additional context, note that price has gone up 8 out of the past 14 days.