(Last Updated November 19, 2021 1:40 GMT)
At the moment, CADJPY’s rate is up 440 pips (0.05%) from the hour prior. CADJPY has seen its price go up 4 out of the past 5 hours, thus creating some compelling opportunities for bulls. As for the trend on the hourly timeframe, we see the clearest trend on the 20 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)
The back and forth price flow continues for CADJPY, which started today off at 90.649, up 10 pips 0.11% from yesterday. Relative to other instruments in the Forex asset class, CADJPY ranked 23rd yesterday in terms of percentage price change. Let’s take a look at price chart of CADJPY.
CADJPY Technical Analysis
The first thing we should note is that CADJPY is now close to its 20, 50 and 100 day averages, located at 91.4146, 89.7862 and 88.6556 respectively, and thus may be at a key juncture along those timeframes. Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving down. Interestingly, a trend in the other direction exists on the 90 day timeframe, where price is headed up. For additional context, note that price has gone up 7 out of the past 14 days.