CADJPY Down 4 Pips Over Past Hour, Came Into Today Up For the 6th Day In A Row; in an Uptrend Over Past 14 Days

Hourly Update

(Last Updated October 15, 2021 23:15 GMT)

At the time of this writing, CADJPY’s rate is down -390 pips (-0.04%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved up. As for the trend on the hourly timeframe, we see the clearest trend on the 50 hour timeframe. Price action traders may also wish to note that we see a doji candlestick pattern on CADJPY. Given that we see downtrend on the 10 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. 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 up 97 pips (1.06%) since the previous day (opening today near 92.025), marking the 6th day in a row an upward move has occurred. Relative to other instruments in the Forex asset class, CADJPY ranked 2nd the previous day in terms of percentage price change. Here is a price chart of CADJPY.

CADJPY

CADJPY Technical Analysis

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 373.7 pips away. The clearest trend exists on the 14 day timeframe, which shows price moving up over that time. For additional context, note that price has gone up 8 out of the past 10 days.