CAD/JPY - 1H - Technical analysis published on 12/07/2023 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : TARGET REACHED
Summary of the analysis
Trends
Short term:
Strongly bearish
Underlying:
Strongly bearish
Technical indicators
39%
39%
22%
My opinion
Bearish under 106.19 JPY
My targets
105.58 JPY (-0.43)
104.95 JPY (-1.06)
My analysis
CAD/JPY is part of a very strong bearish trend. Traders may consider trading only short positions (for sale) as long as the price remains well below 106.19 JPY. The next support located at 105.58 JPY is the next bearish objective to target. A bearish break of this support would revive the bearish momentum. The bearish movement could then continue towards the next support located at 104.95 JPY. Below this support, sellers could then target 101.48 JPY. With the current pattern, you will need to monitor for possible bearish 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 bearish trend. Trying to profit from the purchase of these possible corrections may seem risky.
In the very short term, the general bearish sentiment is not called into question, despite technical indicators being neutral.
Force
0
10
6.1
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This analysis was given by hkelaine. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The CAD/JPY price is 106.01 JPY. On the day, this instrument lost -2.10% and was between 104.22 JPY and 108.29 JPY. This implies that the price is at +1.72% from its lowest and at -2.11% from its highest.104.22
108.29
106.01
A bullish opening was detected by the Central Gaps scanner. Buyers are trying to impose a bullish momentum in the very short term.
Bullish opening
Type : Bullish
Timeframe : Openning
Here is a more detailed summary of the historical variations registered by CAD/JPY:
Near a 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
Near a new HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
New LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
Technical analysis of CAD/JPY in 1H shows a overall strongly bearish trend. 92.86% of the signals given by moving averages are bearish. The overall trend is supported by the strong bearish signals from short-term moving averages. There is no crossing of moving average by the price or crossing of moving averages between themselves.
The technical indicators are generally neutral. They do not provide relevant information on the direction of future price movements.
Other results related to technical indicators were also found by the Central Indicators scanner:
Pivot points : price is under support 3
Type : Neutral
Timeframe : 1 hour
Pivot points : price is under support 3
Type : Neutral
Timeframe : Weekly
MACD crosses UP its Moving Average
Type : Bullish
Timeframe : 1 hour
An analysis of the price chart with the Central Patterns scanner (detector of chart patterns and resistances and supports) shows several results that can have an impact on the price change:
Near horizontal support
Type : Bullish
Timeframe : 1 hour
Support of channel is broken
Type : Bearish
Timeframe : 1 hour
The Central Candlesticks scanner, specialised in Japanese candlesticks, did not identify any signals.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 97.92 | 101.48 | 104.95 | 106.01 | 106.19 | 108.04 | 108.26 |
| Change (%) | -7.63% | -4.27% | -1.00% | - | +0.17% | +1.91% | +2.12% |
| Change | -8.09 | -4.53 | -1.06 | - | +0.18 | +2.03 | +2.25 |
| Level | Minor | Minor | Minor | - | Major | Major | Minor |
To determine price objectives, it is also possible to use the pivot points. Here is the price position in relation to pivot points:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 107.67 | 107.96 | 108.12 | 108.41 | 108.57 | 108.86 | 109.02 |
| Camarilla | 108.16 | 108.20 | 108.24 | 108.28 | 108.32 | 108.36 | 108.40 |
| Woodie | 107.61 | 107.93 | 108.06 | 108.38 | 108.51 | 108.83 | 108.96 |
| Fibonacci | 107.96 | 108.13 | 108.24 | 108.41 | 108.58 | 108.69 | 108.86 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 106.29 | 107.17 | 108.01 | 108.89 | 109.73 | 110.61 | 111.45 |
| Camarilla | 108.37 | 108.53 | 108.68 | 108.84 | 109.00 | 109.16 | 109.31 |
| Woodie | 106.26 | 107.16 | 107.98 | 108.88 | 109.70 | 110.60 | 111.42 |
| Fibonacci | 107.17 | 107.83 | 108.24 | 108.89 | 109.55 | 109.96 | 110.61 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 103.92 | 105.58 | 107.37 | 109.03 | 110.82 | 112.48 | 114.27 |
| Camarilla | 108.22 | 108.54 | 108.85 | 109.17 | 109.49 | 109.80 | 110.12 |
| Woodie | 104.00 | 105.61 | 107.45 | 109.06 | 110.90 | 112.51 | 114.35 |
| Fibonacci | 105.58 | 106.90 | 107.71 | 109.03 | 110.35 | 111.16 | 112.48 |
Numerical data
The following is the status of the technical indicators and moving averages at the time of publication of this technical analysis:
Technical indicators
Moving averages
| RSI (14): | 31.85 | |
| MACD (12,26,9): | -0.5600 | |
| Directional Movement: | -33.60 | |
| AROON (14): | -57.14 | |
| DEMA (21): | 105.67 | |
| Parabolic SAR (0,02-0,02-0,2): | 104.33 | |
| Elder Ray (13): | -0.21 | |
| Super Trend (3,10): | 106.53 | |
| Zig ZAG (10): | 105.94 | |
| VORTEX (21): | 0.7400 | |
| Stochastique (14,3,5): | 63.17 | |
| TEMA (21): | 105.48 | |
| Williams %R (14): | -34.35 | |
| Chande Momentum Oscillator (20): | -0.76 | |
| Repulse (5,40,3): | 0.2300 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.0800 | |
| Courbe Coppock: | 2.45 |
| MA7: | 108.22 | |
| MA20: | 108.89 | |
| MA50: | 109.06 | |
| MA100: | 108.54 | |
| MAexp7: | 105.92 | |
| MAexp20: | 106.42 | |
| MAexp50: | 107.24 | |
| MAexp100: | 107.82 | |
| Price / MA7: | -2.04% | |
| Price / MA20: | -2.64% | |
| Price / MA50: | -2.80% | |
| Price / MA100: | -2.33% | |
| Price / MAexp7: | +0.08% | |
| Price / MAexp20: | -0.39% | |
| Price / MAexp50: | -1.15% | |
| Price / MAexp100: | -1.68% |
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
-
CAD/JPY Forecast September 19, 2022
-
USDJPY and CADJPY Push Reversal Risk as S&P 500 Mocks Technical Levels
-
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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