CAD/JPY - 1H - Technical analysis published on 06/12/2024 (GMT)
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- Timeframe : 1H
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Summary of the analysis
Trends
Short term:
Bearish
Underlying:
Bearish
Technical indicators
6%
72%
22%
My opinion
Bearish under 114.38 JPY
My targets
113.44 JPY (-0.42)
112.96 JPY (-0.90)
My analysis
All elements being rather bearish, it would be possible for traders to trade only short positions (for sale) on CAD/JPY as long as the price remains well below 114.38 JPY. The next bearish objective for sellers is set at 113.44 JPY. A bearish break of this support would revive the bearish momentum. Sellers could then target the next support located at 112.96 JPY. If there is any crossing, the next objective would be the support located at 111.84 JPY. Be careful, the short term currently seems to be losing momentum. Its reversal would lead to mitigation of the, bearish, basic trend. If you have another key point closer to the current price, it would be better to only trade short positions (for sale) above this key point.
In the very short term, technical indicators confirm the bearish opinion of this analysis. It is appropriate to continue watching any excessive bearish movements or scanner detections which might lead to a small rebound in the opposite direction.
Force
0
10
5.9
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This analysis was given by dtaccori. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
CAD/JPY rating 113.86 JPY. The price is lower by -0.32% since the last closing with the lowest point at 113.73 JPY and the highest point at 114.50 JPY. The deviation from the price is +0.11% for the low point and -0.56% for the high point.113.73
114.50
113.86
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
Technical
Technical analysis of CAD/JPY in 1H shows an overall bearish trend. 67.86% of the signals given by moving averages are bearish. This bearish trend is slowing down slightly given the slightly bearish signals given by short-term moving averages. The Central Indicators scanner does not detect any result on moving averages that would impact this trend.
The probability of a further decline is high given the direction of the technical indicators.
Caution: the Central Indicators scanner currently detects an excess:
CCI indicator is oversold : under -100
Type : Neutral
Timeframe : 1 hour
Previous candle closed under Bollinger bands
Type : Neutral
Timeframe : 1 hour
Williams %R indicator is oversold : under -80
Type : Neutral
Timeframe : 1 hour
Pivot points : price is under support 1
Type : Neutral
Timeframe : 1 hour
Central Patterns, the market scanner focusing on chart patterns, resistances and supports found this result:
Near support of channel
Type : Bullish
Timeframe : 1 hour
The Central Candlesticks scanner which studies Japanese candlesticks did not detect anything.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 112.96 | 113.44 | 113.86 | 113.86 | 114.38 | 114.72 | 115.15 |
| Change (%) | -0.79% | -0.37% | 0% | - | +0.46% | +0.76% | +1.13% |
| Change | -0.90 | -0.42 | 0 | - | +0.52 | +0.86 | +1.29 |
| Level | Minor | Intermediate | Intermediate | - | Major | Intermediate | 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 | 113.41 | 113.63 | 113.93 | 114.15 | 114.45 | 114.67 | 114.97 |
| Camarilla | 114.08 | 114.13 | 114.17 | 114.22 | 114.27 | 114.32 | 114.36 |
| Woodie | 113.44 | 113.65 | 113.96 | 114.17 | 114.48 | 114.69 | 115.00 |
| Fibonacci | 113.63 | 113.83 | 113.96 | 114.15 | 114.35 | 114.48 | 114.67 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 110.12 | 111.54 | 112.71 | 114.13 | 115.30 | 116.72 | 117.89 |
| Camarilla | 113.17 | 113.41 | 113.64 | 113.88 | 114.12 | 114.36 | 114.59 |
| Woodie | 110.00 | 111.48 | 112.59 | 114.07 | 115.18 | 116.66 | 117.77 |
| Fibonacci | 111.54 | 112.53 | 113.14 | 114.13 | 115.12 | 115.73 | 116.72 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 108.66 | 110.03 | 112.74 | 114.11 | 116.82 | 118.19 | 120.90 |
| Camarilla | 114.32 | 114.69 | 115.07 | 115.44 | 115.81 | 116.19 | 116.56 |
| Woodie | 109.32 | 110.37 | 113.40 | 114.45 | 117.48 | 118.53 | 121.56 |
| Fibonacci | 110.03 | 111.59 | 112.56 | 114.11 | 115.67 | 116.64 | 118.19 |
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): | 28.66 | |
| MACD (12,26,9): | -0.0600 | |
| Directional Movement: | -23.49 | |
| AROON (14): | -21.43 | |
| DEMA (21): | 114.13 | |
| Parabolic SAR (0,02-0,02-0,2): | 114.46 | |
| Elder Ray (13): | -0.35 | |
| Super Trend (3,10): | 114.22 | |
| Zig ZAG (10): | 113.80 | |
| VORTEX (21): | 0.8300 | |
| Stochastique (14,3,5): | 4.38 | |
| TEMA (21): | 114.03 | |
| Williams %R (14): | -88.31 | |
| Chande Momentum Oscillator (20): | -0.49 | |
| Repulse (5,40,3): | -0.2800 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | 0.0000 | |
| Courbe Coppock: | 0.30 |
| MA7: | 113.89 | |
| MA20: | 114.43 | |
| MA50: | 113.51 | |
| MA100: | 112.11 | |
| MAexp7: | 114.03 | |
| MAexp20: | 114.17 | |
| MAexp50: | 114.17 | |
| MAexp100: | 114.13 | |
| Price / MA7: | -0.03% | |
| Price / MA20: | -0.50% | |
| Price / MA50: | +0.31% | |
| Price / MA100: | +1.56% | |
| Price / MAexp7: | -0.15% | |
| Price / MAexp20: | -0.27% | |
| Price / MAexp50: | -0.27% | |
| Price / MAexp100: | -0.24% |
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
-
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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