CAD/JPY Up 7 Pips in Last Hour, in an Uptrend Over Past 14 Days; Pin Bar Pattern Appearing on Chart
Or to simplify this another way, note that out of the past 14 days cadjpy’s price has gone up 9 them.
CADJPY
(Last Updated April 15, 2021)
Hello! This is the news page for CADJPY. Below you’ll find our daily market updates. Here’s a technical and fundamental summary of where things currently stand:
Forex Calendar for CADJPY
| metric_name | reference_period | asset_name | asset_id | date | time | forecast | outcome |
|---|---|---|---|---|---|---|---|
| Japan BoJ Gov Kuroda Speech | NA | Japanese Yen | JPY | 2021-04-15 | 01:00 GMT | ||
| Canada Manufacturing Sales MoM | Feb 2021 | Canadian Dollar | CAD | 2021-04-15 | 12:30 GMT | -1% | -1.6% |
| Japan Reuters Tankan Index | Apr 2021 | Japanese Yen | JPY | 2021-04-15 | 23:00 GMT | ||
| Canada Housing Starts | Mar 2021 | Canadian Dollar | CAD | 2021-04-16 | 12:15 GMT | 250K | |
| Japan Exports YoY | Mar 2021 | Japanese Yen | JPY | 2021-04-18 | 23:50 GMT |
The Trend
If we observe the 90 and 30 day timeframes, we see an uptrend in place for CADJPY.
CADJPY Moving Averages
The moving averages on CADJPY summarize its price action in an interesting way. Of the 20, 50, 100, and 200 day averages — three of them (all but the 20) — are bullish, suggesting the trend is generally upward, aside from a fall about 3 weeks prior.
The chart below illustrates.
As for assets in the Forex asset class CADJPY has been correlated to over the past week, it has been most correlated with EURCAD. Over the past 14 days, however, the asset showing the strongest correlation to CADJPY is CADCHF. Alternatively, EURTRY has been the asset least correlated with CADJPY — but if we observe the prior two weeks, the asset least correlated with CADJPY has been EURJPY. The chart below illustrates CADJPY against its least correlated assets.
.
The View From the Weekly Timeframe
Currently, CADJPY’s rate is down -4950 pips (-0.57%) from the week prior. CADJPY has seen its price go down 4 out of the past 5 weeks, thus creating some compelling opportunities for bears. Regarding the trend, note that the strongest trend exists on the 20 week timeframe. Looking further out, the moving averages on the weekly 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’s weekly price action over the past 52 weeks can be seen via the chart below.
CADJPY: The Monthly View
Monthly view favors rangebound strategies. No clear trend on the 24, 60 and 120 month timeframes.
CADJPY Down 6 Pips On Hourly Chart, in an Uptrend Over Past 90 Days; Pin Bar Pattern Appearing on Chart
If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 100 hour timeframe.
CADJPY Up 2 Pips in Last Hour; in an Uptrend Over Past 14 Days
Regarding the trend, note that the strongest trend exists on the 100 hour timeframe.
CADJPY Up 11 Pips On Hourly Chart; in an Uptrend Over Past 14 Days
Relative to other instruments in the forex asset class, cadjpy ranked 13th yesterday in terms of percentage price change.
CADJPY Down 3 Pips Over Past Hour, 6 Day Up Streak Ended; in an Uptrend Over Past 14 Days
This move is a reversal from the hour prior, which saw price move up.
CADJPY Up 9 Pips in Last Hour, Came Into Today Up For the 6th Consecutive Day; in an Uptrend Over Past 90 Days
Regarding the trend, note that the strongest trend exists on the 50 hour timeframe.
CADJPY Down 0 Pips Over Past Hour, Moves Up For the 5th Straight Day; in an Uptrend Over Past 90 Days
Price action traders may also wish to note that we see a pin bar candlestick pattern on cadjpy.
CADJPY Down 3 Pips Over Past Hour, Moves Up For the 4th Straight Day; in an Uptrend Over Past 90 Days
Price action traders may also wish to note that we see a doji candlestick pattern on cadjpy.
CADJPY Up 10 Pips Over Past Hour, Entered Today Up For the 3rd Straight Day; in an Uptrend Over Past 90 Days
Relative to other instruments in the forex asset class, cadjpy ranked 10th the previous day in terms of percentage price change.
CADJPY Down 1 Pips in Last Hour, Came Into Today Up For the 2nd Straight Day; Crosses 20 Day Moving Average
The clearest trend exists on the 90 day timeframe, which shows price moving up over that time.