(Last Updated September 17, 2021 1:16 GMT)
Currently, CADJPY’s rate is down -500 pips (-0.06%) from the hour prior. CADJPY has seen its price go down 4 out of the past 5 hours, thus creating some compelling opportunities for bears. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists 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 86.597, up 14 pips (0.17%) from the day prior. Out of the 39 instruments in the Forex asset class, CADJPY ended up ranking 9th for the day in terms of price change. Here is a price chart of CADJPY.
CADJPY Technical Analysis
The first thing we should note is that CADJPY is now close to its 20, 50, 100 and 200 day averages, located at 86.8928, 87.3103, 88.6349 and 86.3164 respectively, and thus may be at a key juncture along those timeframes. As for the alignment of the moving averages, well, it’s a bit mixed up; the 20, 50, 100, and 200 do not progress from largest to smallest, or vice versa. The closest is the 200 day average, which is 28.1 pips away. The clearest trend exists on the 90 day timeframe, which shows price moving down over that time. For additional context, note that price has gone down 5 out of the past 10 days.