CAD/JPY - 1H - Technical analysis published on 07/28/2023 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : INVALID
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Summary of the analysis
Trends
Short term:
Strongly bearish
Underlying:
Strongly bearish
Technical indicators
17%
61%
22%
My opinion
Bearish under 104.92 JPY
My targets
104.24 JPY (-0.49)
102.84 JPY (-1.89)
My analysis
CAD/JPY is part of a very strong bearish trend. Traders may consider trading only short positions (for sale) as long as the price remains well below 104.92 JPY. The next support located at 104.24 JPY is the next bearish objective to target. A bearish break of this support would revive the bearish momentum. The bearish movement could then continue towards the next support located at 102.84 JPY. Below this support, sellers could then target 100.55 JPY. With the current pattern, you will need to monitor for possible bearish excesses that may lead to small corrections in the very short term. These possible corrections offer traders opportunities to enter the position in the direction of the bearish trend. Trying to profit from the purchase of these possible corrections may seem risky.
Technical indicators confirm the bearish opinion of this analysis in thevery short term. However, be careful of excessive bearish movements. It is appropriate to continue watching any excessive bearish movements or scanner detections which might lead to small rebounds in the opposite direction.
Force
0
10
7.5
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This analysis was given by mrjackyt. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The CAD/JPY price is 104.73 JPY. The price is lower by -0.24% since the last closing and was between 104.22 JPY and 106.70 JPY. This implies that the price is at +0.49% from its lowest and at -1.85% from its highest.104.22
106.70
104.73
A study of price movements over other periods shows the following variations:
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
A technical analysis in 1H 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. An assessment of moving averages reveals a bearish signal that could impact this trend:
Moving Average bearish crossovers : AMA20 & AMA50
Type : Bearish
Timeframe : 1 hour
In fact, 11 technical indicators on 18 studied are currently positioned bearish. Caution: the Central Indicators scanner currently detects an excess:
CCI indicator is oversold : under -100
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 : Weekly
Parabolic SAR indicator bearish reversal
Type : Bearish
Timeframe : 1 hour
Central Patterns, the scanner specializing in chart patterns, did not identify any signals.
Central Candlesticks, the scanner specialised in Japanese candlesticks, detects a bearish signal that could support the hypothesis of a small drop in the very short term:
Long black line
Type : Bearish
Timeframe : 1 hour
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 97.88 | 100.55 | 104.24 | 104.73 | 104.92 | 105.87 | 106.19 |
| Change (%) | -6.54% | -3.99% | -0.47% | - | +0.18% | +1.09% | +1.39% |
| Change | -6.85 | -4.18 | -0.49 | - | +0.19 | +1.14 | +1.46 |
| Level | Minor | Intermediate | Intermediate | - | Intermediate | Major | Major |
Pivot points can also be used to set your price objectives. Here is the price situation in relation to pivot points:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 101.87 | 103.33 | 104.16 | 105.62 | 106.45 | 107.91 | 108.74 |
| Camarilla | 104.35 | 104.56 | 104.77 | 104.98 | 105.19 | 105.40 | 105.61 |
| Woodie | 101.55 | 103.17 | 103.84 | 105.46 | 106.13 | 107.75 | 108.42 |
| Fibonacci | 103.33 | 104.21 | 104.75 | 105.62 | 106.50 | 107.04 | 107.91 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 101.44 | 102.84 | 105.00 | 106.40 | 108.56 | 109.96 | 112.12 |
| Camarilla | 106.18 | 106.51 | 106.83 | 107.16 | 107.49 | 107.81 | 108.14 |
| Woodie | 101.82 | 103.03 | 105.38 | 106.59 | 108.94 | 110.15 | 112.50 |
| Fibonacci | 102.84 | 104.20 | 105.04 | 106.40 | 107.76 | 108.60 | 109.96 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 97.38 | 99.91 | 104.45 | 106.98 | 111.52 | 114.05 | 118.59 |
| Camarilla | 107.05 | 107.69 | 108.34 | 108.99 | 109.64 | 110.29 | 110.93 |
| Woodie | 98.39 | 100.41 | 105.46 | 107.48 | 112.53 | 114.55 | 119.60 |
| Fibonacci | 99.91 | 102.61 | 104.28 | 106.98 | 109.68 | 111.35 | 114.05 |
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): | 32.60 | |
| MACD (12,26,9): | -0.3600 | |
| Directional Movement: | -5.02 | |
| AROON (14): | -100.00 | |
| DEMA (21): | 105.21 | |
| Parabolic SAR (0,02-0,02-0,2): | 106.70 | |
| Elder Ray (13): | -0.51 | |
| Super Trend (3,10): | 106.24 | |
| Zig ZAG (10): | 104.57 | |
| VORTEX (21): | 0.8200 | |
| Stochastique (14,3,5): | 23.54 | |
| TEMA (21): | 105.02 | |
| Williams %R (14): | -88.81 | |
| Chande Momentum Oscillator (20): | -2.43 | |
| Repulse (5,40,3): | -1.1700 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.0400 | |
| Courbe Coppock: | 2.58 |
| MA7: | 106.21 | |
| MA20: | 106.48 | |
| MA50: | 105.87 | |
| MA100: | 102.34 | |
| MAexp7: | 105.21 | |
| MAexp20: | 105.61 | |
| MAexp50: | 106.07 | |
| MAexp100: | 106.32 | |
| Price / MA7: | -1.39% | |
| Price / MA20: | -1.64% | |
| Price / MA50: | -1.08% | |
| Price / MA100: | +2.34% | |
| Price / MAexp7: | -0.45% | |
| Price / MAexp20: | -0.82% | |
| Price / MAexp50: | -1.25% | |
| Price / MAexp100: | -1.49% |
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
-
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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