CADJPY Up 5 Pips On Hourly Chart, Entered Today Down For the 6th Day In A Row; Eyes 20 Day Average

Hourly Update

(Last Updated April 9, 2021 3:17 GMT)

At the moment, CADJPY’s rate is up 460 pips (0.05%) 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. The moving averages on the hourly timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.

CADJPY End of Day Recap

Updated 00:30 GMT (04:30 EST)

CADJPY is down 6 pips (0.07%) since yesterday (opening today near 87.017), marking the 6th day in a row a decline has happened. Compared to its peers in the Forex, CADJPY gave its buyers a return that ranked 17th in terms of percentage change since yesterday. Here is a price chart of CADJPY.

CADJPY

CADJPY Technical Analysis

The first thing we should note is that CADJPY is now close to its 20 and 50 day averages, located at 87.3011 and 85.1345 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. Or to simplify this another way, note that out of the past 14 days CADJPY’s price has gone down 9 them. And for candlestick traders, a special treat: there is a pin bar pattern showing up on the charts as well. Rejoice!