CAD/JPY - 1H - Technical analysis published on 01/02/2020 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : INVALID
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Summary of the analysis
Trends
Court terme:
Strongly bullish
De fond:
Strongly bullish
Technical indicators
83%
0%
17%
My opinion
Bullish above 83.62 JPY
My targets
83.92 JPY (+0.08)
84.07 JPY (+0.23)
My analysis
The bullish trend is currently very strong on CAD/JPY. As long as the price remains above the support at 83.62 JPY, you could try to benefit from the boom. The first bullish objective is located at 83.92 JPY. The bullish momentum would be boosted by a break in this resistance. Buyers would then use the next resistance located at 84.07 JPY as an objective. Crossing it would then enable buyers to target 87.06 JPY. Be careful, given the powerful bullish rally underway, excesses could lead to a possible correction in the short term. 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.
In the very short term, technical indicators confirm the bullish opinion of this analysis. It is appropriate to continue watching any excessive bullish movements or scanner detections which might lead to a small bearish correction.
FORCE
0
10
8.4
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This analysis was given by Vincent Launay. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The CAD/JPY rating is 83.84 JPY. The price registered an increase of +0.06% on the session and was between 83.67 JPY and 83.91 JPY. This implies that the price is at +0.20% from its lowest and at -0.08% from its highest.83.67
83.91
83.84
Here is a more detailed summary of the historical variations registered by CAD/JPY:
Near a new LOW record (1st january)
Type : Bearish
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. The overall trend is supported by the strong bullish signals from short-term moving averages. The Central Indicators scanner does not detect any result on moving averages that would impact this trend.
In fact, 15 technical indicators on 18 studied are currently bullish. Caution: the Central Indicators scanner currently detects an excess:
CCI indicator is overbought : over 100
Type : Neutral
Timeframe : 1 hour
Previous candle closed over Bollinger bands
Type : Neutral
Timeframe : 1 hour
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : 1 hour
Pivot points : price is over resistance 1
Type : Neutral
Timeframe : 1 hour
MACD crosses UP its Moving Average
Type : Bullish
Timeframe : 1 hour
Price is back over the pivot point
Type : Bullish
Timeframe : Weekly
No signals are given by Central Patterns, a market scanner specialised in chart patterns, resistances and supports.
The Central Candlesticks scanner which studies Japanese candlesticks did not detect anything.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | R1 | Price | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 83.22 | 83.47 | 83.62 | 83.84 | 83.84 | 83.92 | 84.07 |
| Change (%) | -0.74% | -0.44% | -0.26% | 0% | - | +0.10% | +0.27% |
| Change | -0.62 | -0.37 | -0.22 | 0 | - | +0.08 | +0.23 |
| Level | Major | Minor | Minor | Minor | - | Intermediate | Intermediate |
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 | 83.57 | 83.62 | 83.70 | 83.75 | 83.83 | 83.88 | 83.96 |
| Camarilla | 83.75 | 83.77 | 83.78 | 83.79 | 83.80 | 83.81 | 83.83 |
| Woodie | 83.60 | 83.63 | 83.73 | 83.76 | 83.86 | 83.89 | 83.99 |
| Fibonacci | 83.62 | 83.67 | 83.70 | 83.75 | 83.80 | 83.83 | 83.88 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 82.31 | 82.64 | 83.17 | 83.50 | 84.03 | 84.36 | 84.89 |
| Camarilla | 83.45 | 83.53 | 83.61 | 83.69 | 83.77 | 83.85 | 83.93 |
| Woodie | 82.40 | 82.69 | 83.26 | 83.55 | 84.12 | 84.41 | 84.98 |
| Fibonacci | 82.64 | 82.97 | 83.18 | 83.50 | 83.83 | 84.04 | 84.36 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 79.76 | 80.63 | 82.17 | 83.04 | 84.58 | 85.45 | 86.99 |
| Camarilla | 83.04 | 83.26 | 83.48 | 83.70 | 83.92 | 84.14 | 84.36 |
| Woodie | 80.09 | 80.80 | 82.50 | 83.21 | 84.91 | 85.62 | 87.32 |
| Fibonacci | 80.63 | 81.55 | 82.12 | 83.04 | 83.96 | 84.53 | 85.45 |
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): | 65.46 | |
| MACD (12,26,9): | 0.0700 | |
| Directional Movement: | 16.94 | |
| AROON (14): | 78.57 | |
| DEMA (21): | 83.82 | |
| Parabolic SAR (0,02-0,02-0,2): | 83.68 | |
| Elder Ray (13): | 0.09 | |
| Super Trend (3,10): | 83.60 | |
| Zig ZAG (10): | 83.84 | |
| VORTEX (21): | 1.0300 | |
| Stochastique (14,3,5): | 75.54 | |
| TEMA (21): | 83.83 | |
| Williams %R (14): | -32.00 | |
| Chande Momentum Oscillator (20): | 0.07 | |
| Repulse (5,40,3): | 0.0400 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0100 | |
| Courbe Coppock: | 0.19 |
| MA7: | 83.58 | |
| MA20: | 83.13 | |
| MA50: | 82.66 | |
| MA100: | 81.88 | |
| MAexp7: | 83.80 | |
| MAexp20: | 83.72 | |
| MAexp50: | 83.62 | |
| MAexp100: | 83.54 | |
| Price / MA7: | +0.31% | |
| Price / MA20: | +0.85% | |
| Price / MA50: | +1.43% | |
| Price / MA100: | +2.39% | |
| Price / MAexp7: | +0.05% | |
| Price / MAexp20: | +0.14% | |
| Price / MAexp50: | +0.26% | |
| Price / MAexp100: | +0.36% |
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:
-
Quick Takes Video: BoC Hike Pushes CAD/JPY To Key Resistance, Now What?
-
Forex: Top FX Headlines: GBP/USD Awaits Catalyst; USD/CAD, CAD/JPY at Crossroads: 7/11/17
-
Technical Focus: CAD/JPY - Getting Ready for the Next Big Level
-
Forex: Top FX Headlines: USD/CAD, CAD/JPY in the Spotlight Today - Watch Crude Oil Price: 2/24/17
-
Harmony Stalking an Opportunity on CAD/JPY
This member declared not having a position on this financial instrument or a related financial instrument.
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