CAD/JPY - 1H - Technical analysis published on 06/13/2024 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : INVALID
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Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Strongly bullish
Technical indicators
83%
6%
11%
My opinion
Bullish above 114.29 JPY
My targets
114.72 JPY (+0.26)
115.32 JPY (+0.86)
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 114.29 JPY. The buyers' bullish objective is set at 114.72 JPY. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 115.32 JPY. If there is any crossing, the next objective would be the resistance located at 115.55 JPY. However, beware of bullish excesses that could lead to a possible short-term correction; but this possible correction would not be tradeable.
In the very short term, the general bullish sentiment is confirmed by technical indicators. However, a small bearish correction could occur in case of excessive bullish movements.
Force
0
10
8.2
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Additional analysis
Quotes
The CAD/JPY rating is 114.46 JPY. On the day, this instrument gained +0.16% with the lowest point at 114.12 JPY and the highest point at 114.51 JPY. The deviation from the price is +0.30% for the low point and -0.04% for the high point.114.12
114.51
114.46
A bearish opening was detected by the Central Gaps scanner. Sellers are trying to impose a bearish trend in the very short term.
Bearish opening
Type : Bearish
Timeframe : Openning
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
Technical analysis of CAD/JPY in 1H shows a strongly overall bullish trend. 89.29% of the signals given by moving averages are bullish. The overall trend is supported by the strong bullish signals from short-term moving averages. There is no crossing of moving average by the price or crossing of moving averages between themselves.
In fact, according to the parameters integrated into the Central Analyzer system, 15 technical indicators out of 18 analysed are currently bullish. But beware of excesses. The Central Indicators scanner currently detects this:
CCI indicator is overbought : over 100
Type : Neutral
Timeframe : 1 hour
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : 1 hour
Price is back over the pivot point
Type : Bullish
Timeframe : Weekly
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 resistance
Type : Bearish
Timeframe : 1 hour
Near resistance of triangle
Type : Bearish
Timeframe : 1 hour
Resistance of channel is broken
Type : Bullish
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 | 113.44 | 113.73 | 114.29 | 114.46 | 114.72 | 115.32 | 115.55 |
| Change (%) | -0.89% | -0.64% | -0.15% | - | +0.23% | +0.75% | +0.95% |
| Change | -1.02 | -0.73 | -0.17 | - | +0.26 | +0.86 | +1.09 |
| Level | Minor | Intermediate | Major | - | Intermediate | Minor | Minor |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 113.07 | 113.40 | 113.84 | 114.17 | 114.61 | 114.94 | 115.38 |
| Camarilla | 114.07 | 114.14 | 114.21 | 114.28 | 114.35 | 114.42 | 114.49 |
| Woodie | 113.13 | 113.43 | 113.90 | 114.20 | 114.67 | 114.97 | 115.44 |
| Fibonacci | 113.40 | 113.69 | 113.88 | 114.17 | 114.46 | 114.65 | 114.94 |
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 technical indicators and moving averages registered at the time this technical analysis was created:
Technical indicators
Moving averages
| RSI (14): | 63.88 | |
| MACD (12,26,9): | 0.0500 | |
| Directional Movement: | 13.18 | |
| AROON (14): | 92.86 | |
| DEMA (21): | 114.29 | |
| Parabolic SAR (0,02-0,02-0,2): | 113.99 | |
| Elder Ray (13): | 0.13 | |
| Super Trend (3,10): | 113.96 | |
| Zig ZAG (10): | 114.49 | |
| VORTEX (21): | 0.9700 | |
| Stochastique (14,3,5): | 89.75 | |
| TEMA (21): | 114.33 | |
| Williams %R (14): | -2.60 | |
| Chande Momentum Oscillator (20): | 0.22 | |
| Repulse (5,40,3): | 0.2000 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0000 | |
| Courbe Coppock: | 0.57 |
| MA7: | 114.12 | |
| MA20: | 114.48 | |
| MA50: | 113.57 | |
| MA100: | 112.17 | |
| MAexp7: | 114.33 | |
| MAexp20: | 114.24 | |
| MAexp50: | 114.20 | |
| MAexp100: | 114.17 | |
| Price / MA7: | +0.30% | |
| Price / MA20: | -0.02% | |
| Price / MA50: | +0.78% | |
| Price / MA100: | +2.04% | |
| Price / MAexp7: | +0.11% | |
| Price / MAexp20: | +0.19% | |
| Price / MAexp50: | +0.23% | |
| Price / MAexp100: | +0.25% |
Quotes :
-
Real time data
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Forex
News
The latest news and videos published on CAD/JPY at the time of the analysis were 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
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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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