Relative to other instruments in the forex asset class, cadjpy ranked 6th the previous day in terms of percentage price change.
This is the 2nd hour in a row cadjpy has seen its price head up.
Interestingly, a trend in the other direction exists on the 30 day timeframe, where price is headed down.
It should be noted, though, that a trend in the opposite direction, going down, exists on the 30 day timeframe.
Regarding the trend, note that the strongest trend exists on the 20 hour timeframe.
Or to simplify this another way, note that out of the past 10 days cadjpy’s price has gone down 6 them.
Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving up.
This move is a reversal from the hour prior, which saw price move up.
Regarding the trend, note that the strongest trend exists on the 100 hour timeframe.