(Last Updated May 2, 2022 1:37 GMT)
At the moment, CADJPY’s rate is up 2070 pips (0.21%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved down. As for the trend on the hourly timeframe, we see the clearest trend on the 50 hour timeframe. Price action traders may also wish to note that we see a doji candlestick pattern on CADJPY. Given that we see downtrend on the 20 and 10 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. 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)
The back and forth price flow continues for CADJPY, which started today off at 100.972, down 128 pips 1.25% from the day prior. Compared to its peers in the Forex, CADJPY gave its buyers a return that ranked 36th in terms of percentage change since the day prior. The price chart of CADJPY below illustrates.
CADJPY Technical Analysis
Notably, CADJPY is now close to its 20 day averages, located at 100.0541 respectively, and thus may be at a key juncture along those timeframes. The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. For additional context, note that price has gone up 18 out of the past 30 days.