CAD/JPY - 1H - Technical analysis published on 05/03/2024 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : LEVEL MAINTAINED
Summary of the analysis
Trends
Short term:
Strongly bearish
Underlying:
Strongly bearish
Technical indicators
22%
50%
28%
My opinion
Bearish under 112.87 JPY
My targets
111.41 JPY (-0.62)
110.13 JPY (-1.90)
My analysis
All elements being clearly bearish, it would be possible for traders to trade only short positions (for sale) on CAD/JPY as long as the price remains well below 112.87 JPY. The sellers' bearish objective is set at 111.41 JPY. A bearish break of this support would revive the bearish momentum. The sellers could then target the support located at 110.13 JPY. In case of crossing, the next objective would be the support located at 108.88 JPY. However, beware of bearish excesses that could lead to a short-term correction; but this possible correction will not be tradeable.
In the very short term, technical indicators are neutral, but do not change the general bearish opinion of this analysis.
Force
0
10
7
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This analysis was given by dtaccori. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The CAD/JPY rating is 112.03 JPY. The price is lower by -0.03% since the last closing and was traded between 111.82 JPY and 112.27 JPY over the period. The price is currently at +0.19% from its lowest and -0.21% from its highest.111.82
112.27
112.03
The Central Gaps scanner detects a bearish opening marking the presence of sellers ahead of buyers at the opening but not sufficiently marked to allow the price to register a quotation gap.
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:
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. 92.86% of the signals given by moving averages are bearish. The overall trend is supported by the strong bearish signals from short-term moving averages. The Central Indicators market scanner currently does not detect any result that concerns moving averages.
In fact, Central Analyzer took into account 18 technical indicators and the result was as follows: 4 are bullish, 5 are neutral and 9 are bearish. The Central Indicators scanner found this result concerning these indicators:
Pivot points : price is under support 1
Type : Neutral
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
Resistance of channel 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 | 108.88 | 110.13 | 111.41 | 112.03 | 112.09 | 112.87 | 113.82 |
| Change (%) | -2.81% | -1.70% | -0.55% | - | +0.05% | +0.75% | +1.60% |
| Change | -3.15 | -1.90 | -0.62 | - | +0.06 | +0.84 | +1.79 |
| Level | Minor | Major | Major | - | Major | Intermediate | 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 | 109.38 | 110.62 | 111.34 | 112.58 | 113.30 | 114.54 | 115.26 |
| Camarilla | 111.52 | 111.70 | 111.88 | 112.06 | 112.24 | 112.42 | 112.60 |
| Woodie | 109.12 | 110.49 | 111.08 | 112.45 | 113.04 | 114.41 | 115.00 |
| Fibonacci | 110.62 | 111.37 | 111.83 | 112.58 | 113.33 | 113.79 | 114.54 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 109.87 | 111.11 | 113.46 | 114.70 | 117.05 | 118.29 | 120.64 |
| Camarilla | 114.83 | 115.16 | 115.49 | 115.82 | 116.15 | 116.48 | 116.81 |
| Woodie | 110.44 | 111.39 | 114.03 | 114.98 | 117.62 | 118.57 | 121.21 |
| Fibonacci | 111.11 | 112.48 | 113.33 | 114.70 | 116.07 | 116.92 | 118.29 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 104.68 | 107.77 | 111.14 | 114.23 | 117.60 | 120.69 | 124.06 |
| Camarilla | 112.72 | 113.32 | 113.91 | 114.50 | 115.09 | 115.68 | 116.28 |
| Woodie | 104.81 | 107.84 | 111.27 | 114.30 | 117.73 | 120.76 | 124.19 |
| Fibonacci | 107.77 | 110.24 | 111.77 | 114.23 | 116.70 | 118.23 | 120.69 |
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): | 34.33 | |
| MACD (12,26,9): | -0.3600 | |
| Directional Movement: | -17.89 | |
| AROON (14): | -57.14 | |
| DEMA (21): | 111.77 | |
| Parabolic SAR (0,02-0,02-0,2): | 112.54 | |
| Elder Ray (13): | -0.17 | |
| Super Trend (3,10): | 112.72 | |
| Zig ZAG (10): | 111.95 | |
| VORTEX (21): | 0.8100 | |
| Stochastique (14,3,5): | 19.40 | |
| TEMA (21): | 111.78 | |
| Williams %R (14): | -79.10 | |
| Chande Momentum Oscillator (20): | 0.00 | |
| Repulse (5,40,3): | 0.0400 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.0500 | |
| Courbe Coppock: | 0.75 |
| MA7: | 113.74 | |
| MA20: | 112.74 | |
| MA50: | 111.63 | |
| MA100: | 110.39 | |
| MAexp7: | 112.01 | |
| MAexp20: | 112.29 | |
| MAexp50: | 112.98 | |
| MAexp100: | 113.48 | |
| Price / MA7: | -1.50% | |
| Price / MA20: | -0.63% | |
| Price / MA50: | +0.36% | |
| Price / MA100: | +1.49% | |
| Price / MAexp7: | +0.02% | |
| Price / MAexp20: | -0.23% | |
| Price / MAexp50: | -0.84% | |
| Price / MAexp100: | -1.28% |
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:
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CAD/JPY Forecast March 7, 2023
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CAD/JPY Forecast October 4, 2022
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CAD/JPY Forecast September 19, 2022
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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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