CADJPY Down 11 Pips in Last Hour, Moves Down For the 5th Day In A Row; Pin Bar Pattern Appearing on Chart

Hourly Update

(Last Updated August 18, 2021 2:16 GMT)

At the moment, CADJPY’s rate is down -1080 pips (-0.12%) from the hour prior. It’s been a feast for bears operating on an hourly timeframe, as CADJPY has now gone down 4 of the past 5 hours. Regarding the trend, note that the strongest trend exists on the 100 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 16 pips (0.19%) since the day prior (opening today near 86.793), marking the 5th 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 the day prior. Below is a price chart of CADJPY.


CADJPY Technical Analysis

Coming into today CADJPY is now close to its 20, 50, 100 and 200 day averages, located at 87.6522, 88.5222, 88.6922 and 85.6204 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 20 day average, which is 85.9 pips away. For additional context, note that price has gone down 17 out of the past 30 days. Also, candlestick traders! Note we see pin bar pattern appearing here as well.

The View From Around the Web

Not much in terms quality buy/sell signals we’re seeing for CADJPY; just 1 sell signals and 0 buy signals. This imputes a buy/sell ratio of 0, which is quite bearish. Here’s a piece we found on; below is a short snippet from it to give you a taste.

After yet another successful trade on CADJPY, we see price getting to our RZ and leaving a wick rejection which makes us sight a possible R returnEyes on that zone then we follow the bullsWRTL et God Grace