CADJPY Up 2 Pips Over Past Hour, 6 Day Up Streak Broken; Nears 20 Day Moving Average

Hourly Update

(Last Updated January 6, 2021 2:17 GMT)

Currently, CADJPY’s rate is up 190 pips (0.02%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved down. Regarding the trend, note that the strongest trend exists on the 20 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, which opened today priced near 80.664, is down 27 pips 0.34% since the day prior, marking a reversal from the day prior — and the end of a 6 day positive run. Out of the 40 instruments in the Forex asset class, CADJPY ended up ranking 23rd for the day in terms of price change. The price chart of CADJPY below illustrates.

CADJPY

CADJPY Technical Analysis

Notably, CADJPY is now close to its 20, 50, 100 and 200 day averages, located at 81.014, 80.254, 80.1268 and 79.1133 respectively, and thus may be at a key juncture along those timeframes. Or to simplify this another way, note that out of the past 30 days CADJPY’s price has gone up 17 them.