CAD/JPY - 1H - Technical analysis published on 02/12/2020 (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 82.83 JPY
My targets
83.46 JPY (+0.48)
84.48 JPY (+1.50)
My analysis
The bullish trend is currently very strong on CAD/JPY. As long as the price remains above the support at 82.83 JPY, you could try to benefit from the boom. The first bullish objective is located at 83.46 JPY. The bullish momentum would be boosted by a break in this resistance. Buyers would then use the next resistance located at 84.48 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, 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
8.8
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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 82.98 JPY. The price has increased by +0.40% since the last closing and was between 82.58 JPY and 83.04 JPY. This implies that the price is at +0.48% from its lowest and at -0.07% from its highest.82.58
83.04
82.98
A study of price movements over other periods shows the following variations:
Near a new LOW record (1st january)
Type : Bearish
Timeframe : Weekly
Abnormal volumes on CAD/JPY were detected by the Central Volumes scanner:
Abnormal volumes
Timeframe : 5 days
Abnormal volumes
Timeframe : 20 days
Technical
Technical analysis of CAD/JPY in 1H shows a strongly overall bullish trend. 92.86% 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.
Technical indicators are strongly bullish, suggesting that the price increase should continue.
Caution: the Central Indicators scanner currently detects an excess:
RSI indicator is overbought : over 70
Type : Neutral
Timeframe : 1 hour
CCI indicator is overbought : over 100
Type : Neutral
Timeframe : 1 hour
Pivot points : price is over resistance 1
Type : Neutral
Timeframe : 1 hour
The Central Patterns scanner, which studies chart patterns, resistances and supports, has identified these signals:
Horizontal resistance is broken
Type : Bullish
Timeframe : 1 hour
Resistance of triangle is broken
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 | 82.48 | 82.70 | 82.83 | 82.98 | 83.46 | 84.48 | 87.06 |
| Change (%) | -0.60% | -0.34% | -0.18% | - | +0.58% | +1.81% | +4.92% |
| Change | -0.50 | -0.28 | -0.15 | - | +0.48 | +1.50 | +4.08 |
| Level | Intermediate | Minor | Intermediate | - | Major | Minor | 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 | 82.01 | 82.20 | 82.42 | 82.61 | 82.83 | 83.02 | 83.24 |
| Camarilla | 82.54 | 82.58 | 82.61 | 82.65 | 82.69 | 82.73 | 82.76 |
| Woodie | 82.04 | 82.21 | 82.45 | 82.62 | 82.86 | 83.03 | 83.27 |
| Fibonacci | 82.20 | 82.35 | 82.45 | 82.61 | 82.76 | 82.86 | 83.02 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 77.95 | 79.76 | 80.95 | 82.76 | 83.95 | 85.76 | 86.95 |
| Camarilla | 81.32 | 81.59 | 81.87 | 82.14 | 82.42 | 82.69 | 82.97 |
| Woodie | 77.64 | 79.61 | 80.64 | 82.61 | 83.64 | 85.61 | 86.64 |
| Fibonacci | 79.76 | 80.91 | 81.61 | 82.76 | 83.91 | 84.61 | 85.76 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 78.78 | 80.17 | 81.78 | 83.17 | 84.78 | 86.17 | 87.78 |
| Camarilla | 82.56 | 82.83 | 83.11 | 83.38 | 83.66 | 83.93 | 84.21 |
| Woodie | 78.88 | 80.23 | 81.88 | 83.23 | 84.88 | 86.23 | 87.88 |
| Fibonacci | 80.17 | 81.32 | 82.03 | 83.17 | 84.32 | 85.03 | 86.17 |
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): | 64.59 | |
| MACD (12,26,9): | 0.1000 | |
| Directional Movement: | 21.19 | |
| AROON (14): | 100.00 | |
| DEMA (21): | 82.93 | |
| Parabolic SAR (0,02-0,02-0,2): | 82.73 | |
| Elder Ray (13): | 0.14 | |
| Super Trend (3,10): | 82.70 | |
| Zig ZAG (10): | 82.98 | |
| VORTEX (21): | 1.2200 | |
| Stochastique (14,3,5): | 86.26 | |
| TEMA (21): | 82.98 | |
| Williams %R (14): | -16.22 | |
| Chande Momentum Oscillator (20): | 0.30 | |
| Repulse (5,40,3): | 0.0900 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0100 | |
| Courbe Coppock: | 0.67 |
| MA7: | 82.69 | |
| MA20: | 82.83 | |
| MA50: | 83.19 | |
| MA100: | 82.64 | |
| MAexp7: | 82.94 | |
| MAexp20: | 82.81 | |
| MAexp50: | 82.70 | |
| MAexp100: | 82.62 | |
| Price / MA7: | +0.35% | |
| Price / MA20: | +0.18% | |
| Price / MA50: | -0.25% | |
| Price / MA100: | +0.41% | |
| Price / MAexp7: | +0.05% | |
| Price / MAexp20: | +0.21% | |
| Price / MAexp50: | +0.34% | |
| Price / MAexp100: | +0.44% |
News
The latest news and videos published on CAD/JPY at the time of the analysis were 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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