CAD/JPY - 1H - Technical analysis published on 05/17/2024 (GMT)
- 54
- 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 bullish
Underlying:
Strongly bullish
Technical indicators
33%
33%
33%
My opinion
Bullish above 114.00 JPY
My targets
114.51 JPY (+0.21)
114.80 JPY (+0.50)
My analysis
All elements being clearly bullish, it would be possible for traders to trade only long positions (at the time of purchase) on CAD/JPY as long as the price remains well above 114.00 JPY. The buyers' bullish objective is set at 114.51 JPY. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 114.80 JPY. If there is any crossing, the next objective would be the resistance located at 115.82 JPY. However, beware of bullish excesses that could lead to a possible short-term correction; but this possible correction would not be tradeable.
Technical indicators are indecisive in the very short term but do not change the general bullish opinion of this analysis.
Force
0
10
5.7
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 114.30 JPY. The price has increased by +0.14% since the last closing and was traded between 114.07 JPY and 114.45 JPY over the period. The price is currently at +0.20% from its lowest and -0.13% from its highest.114.07
114.45
114.30
So that you have an overall view of the price change, here is a table showing the variations over several periods:
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
Technical
A technical analysis in 1H of this CAD/JPY chart shows a strongly bullish trend. 89.29% 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. An assessment of moving averages reveals several bullish signals that could impact this trend:
Bullish price crossover with Moving Average 20
Type : Bullish
Timeframe : 1 hour
Bullish price crossover with adaptative moving average 20
Type : Bullish
Timeframe : 1 hour
Bullish price crossover with adaptative moving average 100
Type : Bullish
Timeframe : 1 hour
In fact, Central Analyzer took into account 18 technical indicators and the result was as follows: 6 are bullish, 6 are neutral and 6 are bearish. The Central Indicators scanner specialised in technical indicators, has not detected anything further.
Central Patterns, the market scanner focusing on chart patterns, resistances and supports found these results:
Near resistance of channel
Type : Bearish
Timeframe : 1 hour
Horizontal resistance is broken
Type : Bullish
Timeframe : 1 hour
Central Candlesticks, the scanner specialised in Japanese candlesticks, detects this inversion signal that could impact the current short-term trend:
Doji
Type : Neutral
Timeframe : 1 hour
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 113.75 | 114.00 | 114.24 | 114.30 | 114.51 | 114.80 | 115.82 |
| Change (%) | -0.48% | -0.26% | -0.05% | - | +0.18% | +0.44% | +1.33% |
| Change | -0.55 | -0.30 | -0.06 | - | +0.21 | +0.50 | +1.52 |
| Level | Intermediate | Minor | Intermediate | - | Minor | Intermediate | Intermediate |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 112.13 | 112.54 | 113.34 | 113.75 | 114.55 | 114.96 | 115.76 |
| Camarilla | 113.81 | 113.92 | 114.03 | 114.14 | 114.25 | 114.36 | 114.47 |
| Woodie | 112.33 | 112.64 | 113.54 | 113.85 | 114.75 | 115.06 | 115.96 |
| Fibonacci | 112.54 | 113.00 | 113.29 | 113.75 | 114.21 | 114.50 | 114.96 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 109.70 | 110.67 | 112.30 | 113.27 | 114.90 | 115.87 | 117.50 |
| Camarilla | 113.22 | 113.45 | 113.69 | 113.93 | 114.17 | 114.41 | 114.65 |
| Woodie | 110.03 | 110.84 | 112.63 | 113.44 | 115.23 | 116.04 | 117.83 |
| Fibonacci | 110.67 | 111.66 | 112.28 | 113.27 | 114.26 | 114.88 | 115.87 |
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 are the details of the technical indicators and moving averages that were collected to generate this technical analysis:
Technical indicators
Moving averages
| RSI (14): | 55.40 | |
| MACD (12,26,9): | 0.0800 | |
| Directional Movement: | -2.21 | |
| AROON (14): | -7.15 | |
| DEMA (21): | 114.34 | |
| Parabolic SAR (0,02-0,02-0,2): | 114.45 | |
| Elder Ray (13): | -0.01 | |
| Super Trend (3,10): | 113.98 | |
| Zig ZAG (10): | 114.26 | |
| VORTEX (21): | 1.0500 | |
| Stochastique (14,3,5): | 39.46 | |
| TEMA (21): | 114.36 | |
| Williams %R (14): | -53.13 | |
| Chande Momentum Oscillator (20): | -0.07 | |
| Repulse (5,40,3): | 0.0200 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0100 | |
| Courbe Coppock: | 0.04 |
| MA7: | 114.05 | |
| MA20: | 113.63 | |
| MA50: | 112.25 | |
| MA100: | 111.06 | |
| MAexp7: | 114.27 | |
| MAexp20: | 114.22 | |
| MAexp50: | 114.11 | |
| MAexp100: | 114.02 | |
| Price / MA7: | +0.22% | |
| Price / MA20: | +0.59% | |
| Price / MA50: | +1.83% | |
| Price / MA100: | +2.92% | |
| Price / MAexp7: | +0.03% | |
| Price / MAexp20: | +0.07% | |
| Price / MAexp50: | +0.17% | |
| Price / MAexp100: | +0.25% |
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