CAD/JPY Up 27 Pips Over Past Hour, Came Into Today Down For the 2nd Consecutive 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
(Last Updated February 24, 2021)
Welcome to the news page for CADJPY (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 Retail Sales YoY | Jan 2021 | Japanese Yen | JPY | 2021-02-25 | 23:50 GMT | -2.6% | |
| Japan Industrial Production MoM Prel | Jan 2021 | Japanese Yen | JPY | 2021-02-25 | 23:50 GMT | 4% | |
| Japan Housing Starts YoY | Jan 2021 | Japanese Yen | JPY | 2021-02-26 | 05:00 GMT | -2.5% |
The Trend
On CADJPY, there is currently an uptrend on the 90, 30 and 14 day timeframes.
CADJPY Moving Averages
CADJPY’s moving averages suggest the trend on a number of time horizons is bullish.
Below is a chart showing CADJPY’s price with its moving averages.
Regarding CADJPY’s correlations over the past 7 days, it has demonstrated the strongest correlation with EURSEK. Over the past 14 days, however, the asset showing the strongest correlation to CADJPY is GBPJPY. On the flip side, the asset least correlated with CADJPY over the past week has been NZDJPY, but if we observe the prior two weeks, the asset least correlated with CADJPY has been NZDCAD. See the chart below to observe the recent price action in CADJPY versus those of assets it hasn’t been well correlated with.
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The View From the Weekly Timeframe
At the moment, CADJPY’s rate is up 780 pips (0.09%) from the week prior. CADJPY has seen its price go up 5 out of the past 5 weeks, thus creating some compelling opportunities for bulls. As for the trend on the weekly timeframe, we see the clearest trend on the 5 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 Up 7 Pips On Hourly Chart, Moves Down For the 2nd Consecutive Day; in an Uptrend Over Past 30 Days
If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 20 hour timeframe.
CADJPY Down 18 Pips Over Past Hour, 2 Day Up Streak Ended; in an Uptrend Over Past 30 Days
The clearest trend exists on the 14 day timeframe, which shows price moving up over that time.
CADJPY Down 1 Pips On Hourly Chart, Entered Today Up For the 2nd Straight Day; in an Uptrend Over Past 90 Days
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
Relative to other instruments in the forex asset class, cadjpy ranked 11th yesterday in terms of percentage price change.
CADJPY Down 1 Pips in Last Hour, 2 Day Up Streak Ended; Pin Bar Pattern Appearing on Chart
For additional context, note that price has gone up 11 out of the past 14 days.
CADJPY Down 2 Pips in Last Hour, Moves Up For the 2nd Straight Day; in an Uptrend Over Past 14 Days
The clearest trend exists on the 14 day timeframe, which shows price moving up over that time.
CADJPY Down 4 Pips Over Past Hour, in an Uptrend Over Past 30 Days; Pin Bar Pattern Appearing on Chart
Price action traders may also wish to note that we see a doji candlestick pattern on cadjpy.
CADJPY Up 1 Pips On Hourly Chart, 5 Day Up Streak Broken; in an Uptrend Over Past 90 Days
If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 50 hour timeframe.
CADJPY Down 3 Pips in Last Hour, Entered Today Up For the 5th Day In A Row; in an Uptrend Over Past 14 Days
This is the 2nd hour in a row cadjpy has seen its price head down.