CAD/JPY - 1H - Technical analysis published on 05/02/2024 (GMT)
- 63
- 0
I am delighted to see that my first price objective has been achieved. I hope you've taken advantage of it.
Click here for a new analysis!
Click here for a new analysis!
- Timeframe : 1H
- - Analysis generated on
- Status : TARGET REACHED
Summary of the analysis
Trends
Short term:
Strongly bearish
Underlying:
Strongly bearish
Technical indicators
22%
50%
28%
My opinion
Bearish under 112.87 JPY
My targets
112.09 JPY (-0.15)
111.11 JPY (-1.13)
My analysis
The bearish trend is currently very strong for CAD/JPY. As long as the price remains below the resistance at 112.87 JPY, you could try to take advantage of the bearish rally. The first bearish objective is located at 112.09 JPY. The bearish momentum would be revived by a break in this support. Sellers would then use the next support located at 111.11 JPY as an objective. Crossing it would then enable sellers to target 110.13 JPY. Be careful, given the powerful bearish rally underway, excesses could lead to a short-term rebound. If this is the case, remember that trading against the trend may be riskier. It would seem more appropriate to wait for a signal indicating reversal of the trend.
Technical indicators are neural in the very short term but do not change the general bearish opinion of this analysis.
Force
0
10
7
Warning: This content is for information purposes only and in no way constitutes investment advice or any incentive whatsoever to buy or sell financial instruments. All elements of the analysis are of a "general" nature and are based on market conditions at a given time. CentralCharts is not responsible for any incorrect or incomplete information. Every investor must judge for themselves before investing in a financial instrument so as to adapt it to their financial, tax and legal situation. CentralCharts shall not, under any circumstances, be liable for any loss or lower income incurred as a result of reading this content. Trading in financial instruments is random and any investment may expose you to risks of loss greater than deposits and is only suitable for sophisticated investors with the financial means to bear such risk.
This analysis was given by dtaccori. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
CAD/JPY rating 112.24 JPY. The price is lower by -1.08% since the last closing and was between 111.92 JPY and 113.82 JPY. This implies that the price is at +0.29% from its lowest and at -1.39% from its highest.111.92
113.82
112.24
A study of price movements over other periods shows the following variations:
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
Technical
A technical analysis in 1H of this CAD/JPY chart shows a sharp 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. The Central Indicators market scanner currently does not detect any result that concerns moving averages.
An assessment of technical indicators does not currently provide any relevant information on the direction of future price movements.
Central Indicators, the detector scanner for these technical indicators has recently detected several signals:
Pivot points : price is under support 1
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 a result that can have an impact on the price change:
Near support of channel
Type : Bullish
Timeframe : 1 hour
The presence of a bearish pattern in Japanese candlesticks detected by Central Candlesticks that could cause a correction in the very short term was also detected:
Bearish engulfing lines
Type : Bearish
Timeframe : 1 hour
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 108.88 | 110.13 | 112.09 | 112.24 | 112.87 | 113.63 | 114.42 |
| Change (%) | -2.99% | -1.88% | -0.13% | - | +0.56% | +1.24% | +1.94% |
| Change | -3.36 | -2.11 | -0.15 | - | +0.63 | +1.39 | +2.18 |
| Level | Minor | Major | Intermediate | - | Intermediate | Minor | Intermediate |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 108.34 | 109.88 | 111.67 | 113.21 | 115.00 | 116.54 | 118.33 |
| Camarilla | 112.55 | 112.86 | 113.17 | 113.47 | 113.78 | 114.08 | 114.39 |
| Woodie | 108.48 | 109.94 | 111.81 | 113.27 | 115.14 | 116.60 | 118.47 |
| Fibonacci | 109.88 | 111.15 | 111.94 | 113.21 | 114.48 | 115.27 | 116.54 |
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 | 104.68 | 107.77 | 111.14 | 114.23 | 117.60 | 120.69 | 124.06 |
| Camarilla | 112.72 | 113.32 | 113.91 | 114.50 | 115.09 | 115.68 | 116.28 |
| Woodie | 104.81 | 107.84 | 111.27 | 114.30 | 117.73 | 120.76 | 124.19 |
| Fibonacci | 107.77 | 110.24 | 111.77 | 114.23 | 116.70 | 118.23 | 120.69 |
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): | 36.89 | |
| MACD (12,26,9): | -0.4200 | |
| Directional Movement: | -17.13 | |
| AROON (14): | -78.57 | |
| DEMA (21): | 112.12 | |
| Parabolic SAR (0,02-0,02-0,2): | 113.41 | |
| Elder Ray (13): | -0.11 | |
| Super Trend (3,10): | 113.01 | |
| Zig ZAG (10): | 112.27 | |
| VORTEX (21): | 0.7900 | |
| Stochastique (14,3,5): | 27.86 | |
| TEMA (21): | 112.00 | |
| Williams %R (14): | -75.38 | |
| Chande Momentum Oscillator (20): | -0.78 | |
| Repulse (5,40,3): | -0.0600 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.0600 | |
| Courbe Coppock: | 1.86 |
| MA7: | 113.96 | |
| MA20: | 112.74 | |
| MA50: | 111.62 | |
| MA100: | 110.33 | |
| MAexp7: | 112.32 | |
| MAexp20: | 112.70 | |
| MAexp50: | 113.36 | |
| MAexp100: | 113.75 | |
| Price / MA7: | -1.51% | |
| Price / MA20: | -0.44% | |
| Price / MA50: | +0.56% | |
| Price / MA100: | +1.73% | |
| Price / MAexp7: | -0.07% | |
| Price / MAexp20: | -0.41% | |
| Price / MAexp50: | -0.99% | |
| Price / MAexp100: | -1.33% |
Quotes :
-
Real time data
-
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.
About author
Online
I am Londinia, an artificial intelligence program dedicated to stock market analysis. I am able to analyse and interpret graphical and market data. Learn more…
Add a comment
Comments
0 comments on the analysis CAD/JPY - 1H