CAD/JPY - 1H - Technical analysis published on 06/12/2024 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : INVALID
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Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Strongly bullish
Technical indicators
83%
6%
11%
My opinion
Bullish above 113.86 JPY
My targets
114.72 JPY (+0.30)
115.15 JPY (+0.73)
My analysis
The bullish trend is currently very strong on CAD/JPY. As long as the price remains above the support at 113.86 JPY, you could try to benefit from the boom. The first bullish objective is located at 114.72 JPY. The bullish momentum would be boosted by a break in this resistance. Buyers would then use the next resistance located at 115.15 JPY as an objective. Crossing it would then enable buyers to target 115.55 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
8.6
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Additional analysis
Quotes
The CAD/JPY price is 114.42 JPY. On the day, this instrument gained +0.18% and was between 114.18 JPY and 114.47 JPY. This implies that the price is at +0.21% from its lowest and at -0.04% from its highest.114.18
114.47
114.42
So that you have an overall view of the price change, here is a table showing the variations over several periods:
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
Technical analysis of this 1H chart of CAD/JPY indicates that the overall trend is strongly bullish. 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.
In fact, according to the parameters integrated into the Central Analyzer system, 15 technical indicators out of 18 analysed are currently bullish. Caution: the Central Indicators scanner currently detects an excess:
CCI indicator is overbought : over 100
Type : Neutral
Timeframe : 1 hour
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : 1 hour
Price is back over the pivot point
Type : Bullish
Timeframe : Weekly
The Central Patterns scanner, which studies chart patterns, resistances and supports, has identified these signals:
Near horizontal resistance
Type : Bearish
Timeframe : 1 hour
Resistance of channel is broken
Type : Bullish
Timeframe : 1 hour
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 | 113.44 | 113.86 | 114.38 | 114.42 | 114.72 | 115.15 | 115.55 |
| Change (%) | -0.86% | -0.49% | -0.03% | - | +0.26% | +0.64% | +0.99% |
| Change | -0.98 | -0.56 | -0.04 | - | +0.30 | +0.73 | +1.13 |
| Level | Intermediate | Intermediate | Major | - | Intermediate | Minor | Intermediate |
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 | 113.41 | 113.63 | 113.93 | 114.15 | 114.45 | 114.67 | 114.97 |
| Camarilla | 114.08 | 114.13 | 114.17 | 114.22 | 114.27 | 114.32 | 114.36 |
| Woodie | 113.44 | 113.65 | 113.96 | 114.17 | 114.48 | 114.69 | 115.00 |
| Fibonacci | 113.63 | 113.83 | 113.96 | 114.15 | 114.35 | 114.48 | 114.67 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 110.12 | 111.54 | 112.71 | 114.13 | 115.30 | 116.72 | 117.89 |
| Camarilla | 113.17 | 113.41 | 113.64 | 113.88 | 114.12 | 114.36 | 114.59 |
| Woodie | 110.00 | 111.48 | 112.59 | 114.07 | 115.18 | 116.66 | 117.77 |
| Fibonacci | 111.54 | 112.53 | 113.14 | 114.13 | 115.12 | 115.73 | 116.72 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 108.66 | 110.03 | 112.74 | 114.11 | 116.82 | 118.19 | 120.90 |
| Camarilla | 114.32 | 114.69 | 115.07 | 115.44 | 115.81 | 116.19 | 116.56 |
| Woodie | 109.32 | 110.37 | 113.40 | 114.45 | 117.48 | 118.53 | 121.56 |
| Fibonacci | 110.03 | 111.59 | 112.56 | 114.11 | 115.67 | 116.64 | 118.19 |
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): | 64.92 | |
| MACD (12,26,9): | 0.0700 | |
| Directional Movement: | 12.22 | |
| AROON (14): | 92.86 | |
| DEMA (21): | 114.37 | |
| Parabolic SAR (0,02-0,02-0,2): | 114.16 | |
| Elder Ray (13): | 0.11 | |
| Super Trend (3,10): | 114.15 | |
| Zig ZAG (10): | 114.44 | |
| VORTEX (21): | 1.1800 | |
| Stochastique (14,3,5): | 88.62 | |
| TEMA (21): | 114.40 | |
| Williams %R (14): | -8.57 | |
| Chande Momentum Oscillator (20): | 0.23 | |
| Repulse (5,40,3): | 0.0700 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0100 | |
| Courbe Coppock: | 0.31 |
| MA7: | 113.98 | |
| MA20: | 114.47 | |
| MA50: | 113.52 | |
| MA100: | 112.12 | |
| MAexp7: | 114.37 | |
| MAexp20: | 114.29 | |
| MAexp50: | 114.19 | |
| MAexp100: | 114.14 | |
| Price / MA7: | +0.39% | |
| Price / MA20: | -0.04% | |
| Price / MA50: | +0.79% | |
| Price / MA100: | +2.05% | |
| Price / MAexp7: | +0.04% | |
| Price / MAexp20: | +0.11% | |
| Price / MAexp50: | +0.20% | |
| Price / MAexp100: | +0.25% |
Quotes :
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Real time data
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Forex
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:
-
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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