CAD/JPY Down 11 Pips in Last 4 Hours, Moves Up For the 3rd Day In A Row; Crosses 20 Day Moving Average

CAD/JPY 4 Hour Price Update

Updated March 26, 2020 05:13 AM GMT (01:13 AM EST)

CAD/JPY is down 11 pips (0.15%) since the last 4 hour candle (opening the current 4 hour candle near 77.799), marking the 2nd candle in a row a decrease has occurred. Out of the 40 instruments in the Forex asset class, CAD/JPY ended up ranking 33rd for the four-hour candle in terms of price change.

CAD/JPY End of Day Recap

Updated 00:30 GMT (04:30 EST)

CAD/JPY is up 100 pips (1.3%) since the day prior (opening today near 77.955), marking the 3rd day in a row an upward move has occurred. Compared to its peers in the Forex, CAD/JPY gave its buyers a return that ranked 3rd in terms of percentage change since the day prior. Below is a price chart of CAD/JPY.

CAD/JPY Technical Analysis

First things first: CAD/JPY crossed above its 20 day moving average yesterday. 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 93.2 pips away. Volatility for CAD/JPY has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. The clearest trend exists on the 30 day timeframe, which shows price moving down over that time. For additional context, note that price has gone up 7 out of the past 10 days. Also, candlestick traders! Note we see pin bar pattern appearing here as well.

The View From Around the Web

Of note is that traders in aggregate have opinions on CADJPY, with 4 buy signals on our radar and 4 sell signals. This imputes a buy/sell ratio of 1, which is neutral. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

Hello Bunny’s, here is my analysis for CADJPY. Let me know in the comment section if you guys have any questions.If you like my analysis please hit like. Thanks.