(Last Updated October 16, 2020 3:16 GMT)
Currently, CADJPY’s rate is down -410 pips (-0.05%) from the hour prior. This move is a reversal from the hour prior, which saw price move up. As for the trend on the hourly timeframe, we see the clearest trend on the 50 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 is down 26 pips (0.32%) since yesterday (opening today near 79.708), marking the 4th day in a row a decline has happened. Relative to other instruments in the Forex asset class, CADJPY ranked 27th yesterday in terms of percentage 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 79.417, 80.0127, 79.6072 and 79.3632 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 100 day average, which is 10.1 pips away. The clearest trend exists on the 14 day timeframe, which shows price moving up over that time. Or to simplify this another way, note that out of the past 30 days CADJPY’s price has gone down 17 them.