CADJPY Up 20 Pips in Last Hour, Makes Big Move Relative to Two Week Trend; Moves Down For the 3rd Day In A Row

Hourly Update

(Last Updated November 11, 2021 3:15 GMT)

Currently, CADJPY’s rate is up 2010 pips (0.22%) from the hour prior. This move is a reversal from the hour prior, which saw price move down. 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 is down 6 pips (0.07%) since yesterday (opening today near 90.952), marking the 3rd day in a row it has gone down. Compared to its peers in the Forex, CADJPY gave its buyers a return that ranked 22nd 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 and 50 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 30 day timeframe, which shows price moving up over that time. Interestingly, a trend in the other direction exists on the 14 day timeframe, where price is headed down. Or to simplify this another way, note that out of the past 14 days CADJPY’s price has gone down 8 them.