CAD/JPY - Daily - Technical analysis published on 03/20/2020 (GMT)
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- Timeframe : Daily
- - Analysis generated on
- Status : TARGET REACHED
Summary of the analysis
Trends
Court terme:
Strongly bearish
De fond:
Strongly bearish
Technical indicators
33%
44%
22%
My opinion
Bearish under 78.81 JPY
My targets
77.05 JPY (-0.50)
75.87 JPY (-1.68)
My analysis
The bearish trend is currently very strong for CAD/JPY. As long as the price remains below the resistance at 78.81 JPY, you could try to take advantage of the bearish rally. The first bearish objective is located at 77.05 JPY. The bearish momentum would be revived by a break in this support. Sellers would then use the next support located at 75.87 JPY as an objective. Crossing it would then enable sellers to target 75.06 JPY. Be careful, given the powerful bearish rally underway, excesses could lead to a short-term rebound. 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 bearish sentiment is not called into question, despite technical indicators being neutral.
FORCE
0
10
6.4
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This analysis was given by hsokkar. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The CAD/JPY price is 77.55 JPY. The price is lower by +1.04% since the last closing and was between 76.31 JPY and 77.80 JPY. This implies that the price is at +1.62% from its lowest and at -0.32% from its highest.76.31
77.80
77.55
A bullish opening was detected by the Central Gaps scanner. Buyers are trying to impose a bullish momentum in the very short term.
Bullish opening
Type : Bullish
Timeframe : Openning
A study of price movements over other periods shows the following variations:
New LOW record (5 years)
Type : Bearish
Timeframe : Weekly
Near a new LOW record (1st january)
Type : Bearish
Timeframe : Weekly
Near a new LOW record (1 month)
Type : Bearish
Timeframe : Weekly
The Central Volumes scanner notes the presence of abnormal volumes:
Abnormal volumes
Timeframe : 5 days
Abnormal volumes
Timeframe : 20 days
Technical
A technical analysis in Daily of this CAD/JPY chart shows a sharp bearish trend. The signals given by moving averages are 92.86% bearish. This strong bearish trend is confirmed by the strong signals currently being given by short-term moving averages. The Central Indicators scanner does not detect any result on moving averages that would impact this trend.
An assessment of technical indicators does not currently provide any relevant information to suggest whether the signal given by the technical indicators is more bullish or bearish.
Caution: the Central Indicators scanner currently detects an excess:
CCI indicator: bullish divergence
Type : Bullish
Timeframe : Daily
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : Daily
Price is back over the pivot point
Type : Bullish
Timeframe : Daily
Central Patterns, the market scanner focusing on chart patterns, resistances and supports found these results:
Near horizontal support
Type : Bullish
Timeframe : Daily
Support of channel is broken
Type : Bearish
Timeframe : Daily
No result was found by the Central Candlesticks scanner on Japanese candlesticks.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 75.06 | 75.87 | 77.05 | 77.55 | 78.81 | 81.70 | 83.07 |
| Change (%) | -3.21% | -2.17% | -0.64% | - | +1.62% | +5.35% | +7.12% |
| Change | -2.49 | -1.68 | -0.50 | - | +1.26 | +4.15 | +5.52 |
| Level | Major | Minor | Major | - | 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 | 72.45 | 73.32 | 75.04 | 75.91 | 77.63 | 78.50 | 80.22 |
| Camarilla | 76.04 | 76.28 | 76.51 | 76.75 | 76.99 | 77.23 | 77.46 |
| Woodie | 72.87 | 73.53 | 75.46 | 76.12 | 78.05 | 78.71 | 80.64 |
| Fibonacci | 73.32 | 74.31 | 74.92 | 75.91 | 76.90 | 77.51 | 78.50 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 70.79 | 72.34 | 75.29 | 76.84 | 79.79 | 81.34 | 84.29 |
| Camarilla | 77.00 | 77.42 | 77.83 | 78.24 | 78.65 | 79.07 | 79.48 |
| Woodie | 71.49 | 72.69 | 75.99 | 77.19 | 80.49 | 81.69 | 84.99 |
| Fibonacci | 72.34 | 74.06 | 75.12 | 76.84 | 78.56 | 79.62 | 81.34 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 74.36 | 77.25 | 78.97 | 81.86 | 83.58 | 86.47 | 88.19 |
| Camarilla | 79.42 | 79.85 | 80.27 | 80.69 | 81.11 | 81.54 | 81.96 |
| Woodie | 73.78 | 76.96 | 78.39 | 81.57 | 83.00 | 86.18 | 87.61 |
| Fibonacci | 77.25 | 79.01 | 80.10 | 81.86 | 83.62 | 84.71 | 86.47 |
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): | 44.64 | |
| MACD (12,26,9): | -1.6800 | |
| Directional Movement: | -12.57 | |
| AROON (14): | -85.71 | |
| DEMA (21): | 76.05 | |
| Parabolic SAR (0,02-0,02-0,2): | 73.81 | |
| Elder Ray (13): | -0.25 | |
| Super Trend (3,10): | 79.62 | |
| Zig ZAG (10): | 77.46 | |
| VORTEX (21): | 0.8100 | |
| Stochastique (14,3,5): | 33.00 | |
| TEMA (21): | 75.23 | |
| Williams %R (14): | -51.44 | |
| Chande Momentum Oscillator (20): | -2.91 | |
| Repulse (5,40,3): | 3.4200 | |
| ROCnROLL: | -1 | |
| TRIX (15,9): | -0.2900 | |
| Courbe Coppock: | 13.18 |
| MA7: | 76.23 | |
| MA20: | 78.65 | |
| MA50: | 81.39 | |
| MA100: | 82.07 | |
| MAexp7: | 76.61 | |
| MAexp20: | 78.21 | |
| MAexp50: | 80.34 | |
| MAexp100: | 81.33 | |
| Price / MA7: | +1.73% | |
| Price / MA20: | -1.40% | |
| Price / MA50: | -4.72% | |
| Price / MA100: | -5.51% | |
| Price / MAexp7: | +1.23% | |
| Price / MAexp20: | -0.84% | |
| Price / MAexp50: | -3.47% | |
| Price / MAexp100: | -4.65% |
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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