CADJPY Down 2 Pips On Hourly Chart, Came Into Today Down For the 2nd Consecutive Day; in an Uptrend Over Past 30 Days

Hourly Update

(Last Updated April 5, 2021 2:16 GMT)

At the moment, CADJPY’s rate is down -160 pips (-0.02%) from the hour prior. This is the 2nd consecutive hour CADJPY has seen its price head down. As for the trend on the hourly timeframe, we see the clearest trend on the 20 hour timeframe. Regarding moving averages, it should first be noted that price has crossed the 20 hour moving average, resulting in them so that price is now turning below it. 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 down 1 pips (0.01%) since yesterday (opening today near 88.158), marking the 2nd consecutive day it has gone down. Compared to its peers in the Forex, CADJPY gave its buyers a return that ranked 29th in terms of percentage change since yesterday. Let’s take a look at price chart of CADJPY.

CADJPY

CADJPY Technical Analysis

Coming into today 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 90 day timeframe, which shows price moving up over that time. Or to simplify this another way, note that out of the past 10 days CADJPY’s price has gone up 5 them.

The View From Around the Web

We’re seeing some traders come out with interesting conviction on CADJPY, with 10 buy signals on our radar and 1 sell signals. This imputes a buy/sell ratio of 10, which is very bullish. Here’s a piece we found on tradingview.com that we thought you might enjoy.