CADJPY Up 5 Pips in Last Hour, Moves Up For the 2nd Day In A Row; in an Uptrend Over Past 90 Days
It’s been a feast for bulls operating on an hourly timeframe, as cadjpy has now gone up 4 of the past 5 hours.
CADJPY
(Last Updated March 16, 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 BoJ Gov Kuroda Speech | NA | Japanese Yen | JPY | 2021-03-16 | 04:05 GMT | ||
| Japan Reuters Tankan Index | Mar 2021 | Japanese Yen | JPY | 2021-03-16 | 23:00 GMT | ||
| Japan Imports YoY | Feb 2021 | Japanese Yen | JPY | 2021-03-16 | 23:50 GMT | 11.9% | |
| Japan Exports YoY | Feb 2021 | Japanese Yen | JPY | 2021-03-16 | 23:50 GMT | -0.8% | |
| Japan Balance of Trade | Feb 2021 | Japanese Yen | JPY | 2021-03-16 | 23:50 GMT | ¥420B |
The Trend
On CADJPY, there is currently an uptrend on the 90, 30 and 14 day timeframes.
CADJPY Moving Averages
The moving averages on CADJPY indicate a trend that is clearly bullish.
Below is a chart showing CADJPY’s price with its moving averages.
As for assets in the Forex asset class CADJPY has been correlated to over the past week, it has demonstrated the strongest correlation with EURCAD. Over the past 14 days, however, the asset showing the strongest correlation to CADJPY is CADCHF. On the flip side, EURCHF has been the asset least correlated with CADJPY — but if we observe the prior two weeks, the asset least correlated with CADJPY has been AUDNZD. 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 time of this writing, CADJPY’s rate is up 3080 pips (0.36%) from the week prior. It’s been a feast for bulls operating on the weekly timeframe, as CADJPY has now gone up 5 of the past 5 weeks. As for the trend on the weekly timeframe, we see the clearest trend on the 10 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. The weekly chart below shows CADJPY’s price action over the past year.
CADJPY: The Monthly View
Monthly view favors rangebound strategies. No clear trend on the 24, 60 and 120 month timeframes.
CADJPY Down 0 Pips Over Past Hour; in an Uptrend Over Past 90 Days
Volatility for cadjpy has been contracting over the past two weeks relative to volatility over the past month.
CADJPY Up 2 Pips Over Past Hour, Moves Up For the 2nd Consecutive Day; in an Uptrend Over Past 30 Days
Volatility for cadjpy has been contracting over the past two weeks relative to volatility over the past month.
CADJPY Up 2 Pips Over Past Hour, 4 Day Down Streak Broken; Nears 20 Day Moving Average
Regarding the trend, note that the strongest trend exists on the 50 hour timeframe.
CADJPY Up 10 Pips On Hourly Chart, Moves Down For the 4th Day In A Row; in an Uptrend Over Past 30 Days
Volatility for cadjpy has been contracting over the past two weeks relative to volatility over the past month.
CADJPY Down 5 Pips in Last Hour, Came Into Today Down For the 3rd Day In A Row; in an Uptrend Over Past 14 Days
The clearest trend exists on the 30 day timeframe, which shows price moving up over that time.
CADJPY Down 2 Pips On Hourly Chart, Moves Down For the 2nd Day In A Row; in an Uptrend Over Past 14 Days
If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 100 hour timeframe.
CADJPY Down 0 Pips in Last Hour, in an Uptrend Over Past 14 Days; Pin Bar Pattern Appearing on Chart
Of note is that the 20 hour changed directions on cadjpy; it is now pointing down.
CADJPY Down 1 Pips Over Past Hour, Came Into Today Up For the 4th Consecutive Day; in an Uptrend Over Past 90 Days
Regarding the trend, note that the strongest trend exists on the 20 hour timeframe.
CADJPY Up 4 Pips On Hourly Chart, Moves Up For the 2nd Consecutive Day; in an Uptrend Over Past 14 Days
This is a reversal of the price action on the previous hour, in which price moved down.