CADJPY Up 1 Pips Over Past Hour, Moves Up For the 2nd Consecutive Day; Nears 20 Day Moving Average
This move is a reversal from the hour prior, which saw price move down.
CADJPY
(Last Updated January 23, 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 Monetary Policy Meeting Minutes | NA | Japanese Yen | JPY | 2021-01-25 | 23:50 GMT |
The Trend
On CADJPY, there is currently an uptrend on the 90, 30 and 14 day timeframes.
CADJPY Moving Averages
Across several time periods between 20 and 200 days, the trend on CADJPY has remained consistently 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 AUDUSD. Over the past 14 days, however, the asset showing the strongest correlation to CADJPY is EURNOK. Alternatively, the asset least correlated with CADJPY over the past week has been USDJPY, but if we observe the prior two weeks, the asset least correlated with CADJPY has been EURCHF. 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
Currently, CADJPY’s rate is up 3300 pips (0.4%) from the week prior. Moreover, note that this move is a reversal from the week prior, which saw price move down. If you’re a trend trader, consider that the strongest clear trend on the weekly chart 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. 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 Up 2 Pips Over Past Hour, 6 Day Up Streak Broken; Nears 20 Day Moving Average
This is a reversal of the price action on the previous hour, in which price moved down.
CADJPY Down 1 Pips in Last Hour, 6 Day Up Streak Ended; is Inching Close to 20 Day Average
Price action traders may also wish to note that we see a pin bar candlestick pattern on cadjpy.
CADJPY Down 15 Pips Over Past Hour, Entered Today Up For the 6th Straight Day; is Inching Close to 20 Day Average
The clearest trend exists on the 30 day timeframe, which shows price moving up over that time.
CADJPY Up 13 Pips in Last Hour, Came Into Today Up For the 6th Straight Day; Nears 20 Day Moving Average
Relative to other instruments in the forex asset class, cadjpy ranked 20th yesterday in terms of percentage price change.
CADJPY Up 3 Pips Over Past Hour, in a Downtrend Over Past 14 Days; Doji Pattern Appearing on Chart
For additional context, note that price has gone up 17 out of the past 30 days.
CADJPY Up 4 Pips Over Past Hour, Entered Today Up For the 4th Straight Day; Sentiment Strongly Favors Sellers
It should be noted, though, that a trend in the opposite direction, going up, exists on the 30 day timeframe.
CADJPY Up 7 Pips Over Past Hour, Moves Up For the 3rd Day In A Row; Nears 20 Day Moving Average
It’s been a feast for bears operating on an hourly timeframe, as cadjpy has now gone down 4 of the past 5 hours.
CADJPY Down 4 Pips in Last Hour, Moves Up For the 2nd Day In A Row; is Inching Close to 20 Day Average
The clearest trend exists on the 14 day timeframe, which shows price moving down over that time.
CADJPY Down 2 Pips Over Past Hour, Moves Up For the 2nd Consecutive Day; Eyes 20 Day Average
It should be noted, though, that a trend in the opposite direction, going up, exists on the 30 day timeframe.