CAD/JPY - 1H - Technical analysis published on 04/29/2024 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : INVALID
Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Strongly bullish
Technical indicators
72%
0%
28%
My opinion
Bullish above 114.90 JPY
My targets
117.05 JPY (+0.90)
118.29 JPY (+2.14)
My analysis
CAD/JPY is part of a very strong bullish trend. Traders may consider trading only long positions (at the time of purchase) as long as the price remains well above 114.90 JPY. The next resistance located at 117.05 JPY is the next bullish objective to be reached. A bullish break in this resistance would boost the bullish momentum. The bullish movement could then continue towards the next resistance located at 118.29 JPY. After this resistance, buyers could then target 124.85 JPY. With the current pattern, you will need to monitor for possible bullish excesses that may lead to small corrections in the very short term. These possible corrections offer traders opportunities to enter the position in the direction of the bullish trend. Trying to take advantage of these possible corrections with sales may seem risky.
Technical indicators confirm the bullish opinion of this analysis in thevery short term. However, be careful of excessive bullish movements. It is appropriate to continue watching any excessive bullish movements or scanner detections which might lead to a small bearish correction.
Force
0
10
8.4
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This analysis was given by dtaccori. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The CAD/JPY rating is 116.15 JPY. The price has increased by +0.26% since the last closing and was traded between 115.71 JPY and 116.18 JPY over the period. The price is currently at +0.38% from its lowest and -0.03% from its highest.115.71
116.18
116.15
Here is a more detailed summary of the historical variations registered by CAD/JPY:
New HIGH record (5 years)
Type : Bullish
Timeframe : Weekly
Near a new HIGH record (1 year)
Type : Bullish
Timeframe : Weekly
Near a new HIGH record (1st january)
Type : Bullish
Timeframe : Weekly
New HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
Technical analysis of this 1H chart of CAD/JPY indicates that the overall trend is strongly bullish. 92.86% of the signals given by moving averages are bullish. This strongly bullish trend is supported by the strong bullish signals given by short-term moving averages. The Central Indicators scanner does not detect any result on moving averages that would impact this trend.
In fact, according to the parameters integrated into the Central Analyzer system, 13 technical indicators out of 18 analysed are currently bullish. But beware of excesses. The Central Indicators scanner currently detects this:
RSI indicator is overbought : over 70
Type : Neutral
Timeframe : 1 hour
CCI indicator is overbought : over 100
Type : Neutral
Timeframe : 1 hour
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : 1 hour
The Central Patterns scanner, which studies chart patterns, resistances and supports, has identified this signal:
Near resistance of channel
Type : Bearish
Timeframe : 1 hour
No result was found by the Central Candlesticks scanner on Japanese candlesticks.
ProTrendLines
S3
S2
S1
R1
Price
| S3 | S2 | S1 | Price | R1 | |
|---|---|---|---|---|---|
| ProTrendLines | 112.87 | 113.62 | 114.90 | 116.15 | 124.85 |
| Change (%) | -2.82% | -2.18% | -1.08% | - | +7.49% |
| Change | -3.28 | -2.53 | -1.25 | - | +8.70 |
| Level | Major | Minor | Minor | - | Intermediate |
Pivot points can also be used to set your price objectives. Here is the price situation in relation to pivot points:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 114.97 | 115.18 | 115.52 | 115.73 | 116.07 | 116.28 | 116.62 |
| Camarilla | 115.70 | 115.75 | 115.80 | 115.85 | 115.90 | 115.95 | 116.00 |
| Woodie | 115.03 | 115.21 | 115.58 | 115.76 | 116.13 | 116.31 | 116.68 |
| Fibonacci | 115.18 | 115.39 | 115.52 | 115.73 | 115.94 | 116.07 | 116.28 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 109.87 | 111.11 | 113.46 | 114.70 | 117.05 | 118.29 | 120.64 |
| Camarilla | 114.83 | 115.16 | 115.49 | 115.82 | 116.15 | 116.48 | 116.81 |
| Woodie | 110.44 | 111.39 | 114.03 | 114.98 | 117.62 | 118.57 | 121.21 |
| Fibonacci | 111.11 | 112.48 | 113.33 | 114.70 | 116.07 | 116.92 | 118.29 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 105.87 | 107.27 | 109.48 | 110.88 | 113.09 | 114.49 | 116.70 |
| Camarilla | 110.69 | 111.02 | 111.35 | 111.68 | 112.01 | 112.34 | 112.67 |
| Woodie | 106.27 | 107.47 | 109.88 | 111.08 | 113.49 | 114.69 | 117.10 |
| Fibonacci | 107.27 | 108.65 | 109.50 | 110.88 | 112.26 | 113.11 | 114.49 |
Numerical data
The following is the status of technical indicators and moving averages registered at the time this technical analysis was created:
Technical indicators
Moving averages
| RSI (14): | 77.83 | |
| MACD (12,26,9): | 0.4400 | |
| Directional Movement: | 19.77 | |
| AROON (14): | 92.86 | |
| DEMA (21): | 115.89 | |
| Parabolic SAR (0,02-0,02-0,2): | 115.47 | |
| Elder Ray (13): | 0.39 | |
| Super Trend (3,10): | 115.21 | |
| Zig ZAG (10): | 115.98 | |
| VORTEX (21): | 1.2000 | |
| Stochastique (14,3,5): | 94.87 | |
| TEMA (21): | 116.01 | |
| Williams %R (14): | -1.53 | |
| Chande Momentum Oscillator (20): | 1.04 | |
| Repulse (5,40,3): | 0.2800 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0500 | |
| Courbe Coppock: | 1.60 |
| MA7: | 114.45 | |
| MA20: | 112.79 | |
| MA50: | 111.62 | |
| MA100: | 110.25 | |
| MAexp7: | 115.75 | |
| MAexp20: | 115.31 | |
| MAexp50: | 114.62 | |
| MAexp100: | 114.00 | |
| Price / MA7: | +1.49% | |
| Price / MA20: | +2.98% | |
| Price / MA50: | +4.06% | |
| Price / MA100: | +5.35% | |
| Price / MAexp7: | +0.35% | |
| Price / MAexp20: | +0.73% | |
| Price / MAexp50: | +1.33% | |
| Price / MAexp100: | +1.89% |
Quotes :
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Real time data
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Forex
News
Don't forget to follow the news on CAD/JPY. At the time of publication of this analysis, the latest news was as follows:
-
CAD/JPY Forecast March 7, 2023
-
CAD/JPY Forecast October 4, 2022
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CAD/JPY Forecast September 19, 2022
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USDJPY and CADJPY Push Reversal Risk as S&P 500 Mocks Technical Levels
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S&P 500 Breaks Resistance and Immediately Stalls as CADJPY Explodes Higher
This member declared not having a position on this financial instrument or a related financial instrument.
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