(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:
| 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 |
If we observe the 90 and 30 day timeframes, we see an uptrend in place for CADJPY.
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.
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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.
Monthly view favors rangebound strategies. No clear trend on the 24, 60 and 120 month timeframes.
As for the alignment of the moving averages, well, it’s a bit mixed up; the 20, 50, 100, and 200 do not progress from largest to smallest, or vice versa.
The closest is the 100 day average, which is 127.7 pips away.
Price action traders may also wish to note that we see a doji candlestick pattern on cadjpy.
As for the alignment of the moving averages, well, it’s a bit mixed up; the 20, 50, 100, and 200 do not progress from largest to smallest, or vice versa.
As for the alignment of the moving averages, well, it’s a bit mixed up; the 20, 50, 100, and 200 do not progress from largest to smallest, or vice versa.
It may be worth observing that cadjpy was the worst performer of the 39 members in the forex asset class over the past day.
Price action traders may also wish to note that we see a pin bar candlestick pattern on cadjpy.
If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 100 hour timeframe.
Or to simplify this another way, note that out of the past 30 days cadjpy’s price has gone down 17 them.
It should be noted, though, that a trend in the opposite direction, going down, exists on the 30 day timeframe.