search

An incredible cashback rate!
40% of the spread!

Join Now

Will Market Participants Wait and See How the CAD/JPY Pairs Rebound After the Drop?

Market Report

  1. homeHOME
  2. Market Report
  3. Will Market Participants Wait and See How the CAD/JPY Pairs Rebound After the Drop?

Will Market Participants Wait and See How the CAD/JPY Pairs Rebound After the Drop?

25.03.2024

Today's Highlights
  1. U.S. New Home Sales
  2. Bostic (U.S.): Remarks by the President of the Atlanta Federal Reserve Bank

In the U.S. currency markets last weekend, the Canadian dollar fell against the yen after Canada’s January retail sales figures, released on the 22nd, came in at -0.3%, down from 0.9% the previous month. The CAD/JPY pair fell from 112.181 to 110.026.The price fell to near the 200-period EMA on the hourly chart. However, during today’s Asian session, the -2σ Bollinger Band on the hourly chart has acted as support, and the pair is testing the upside; therefore, we will be watching price movements closely during the European session.

Among European currencies, the pound fell against the U.S. dollar. The GBP/USD pair dropped from 12,675 to 1.2575. The 4-hour RSI fell to 30.On the daily chart, the 200-day SMA is acting as support, but since the daily RSI continues its downward trend after touching 70, we will be watching closely to see if the GBP/USD pair will experience a temporary rebound.

Today, the minutes of the Bank of Japan (BOJ) meeting will be released at 8:50, the Japan Leading Economic Index at 14:00, and the UKCBI Retail Trade Survey, at 21:15, remarks by U.S. Atlanta Fed President Bostic, at 21:30, the U.S. Chicago Fed National Activity Index, at 23:00, U.S. new home sales, at 23:15, remarks by U.K.Remarks by MPC Member Mann; at 23:30, the U.S. Dallas Fed Manufacturing Activity Index and remarks by Fed Governor Cook; and at 26:00, a U.S. 2-year Treasury auction are scheduled. I intend to cautiously monitor the resilience of the CAD/JPY pair following its decline.

桜井 慶介

Author: Keisuke Sakurai

He has over 10 years of experience in FX trading. In the financial sector, he has been involved in investment management focused primarily on foreign exchange markets and has experience as an asset management advisor. Drawing on his extensive experience, he specializes in technical and fundamental analysis.

Previous Article

Should We Be on Alert for Sharp Fluctuations in the U.S. Dollar Following Remarks by Fed Chair Powell?

Next Article

Attention is focused on whether the U.S. dollar, which has been weakening against the euro, can rebound
alert
Notification Settings
close

If you're using iOS

iOSをご利用の場合

If you're using iOS, tap the "Add/Save" icon at the bottom of Safari and select "Add to Home Screen." Once you've added it to your Home Screen, you can turn on "Receive Push Notifications" as shown above.

Click here for detailed instructions

If you're using an Android device or a PC

Android、PCをご利用の場合

If you're using an Android device or a PC, you can simply turn on "Receive push notifications" as shown above without installing the app. (If your browser asks for permission, please select "Allow.")

You can find instructions on how to add this to your smartphone's home screen below.

Click here for detailed instructions
USDJPY
XAUUSD
BTCUSD
USDJPY
XAUUSD
BTCUSD
Close
Click here for explanations of each notification
arrow Return to Notification Settings
close
Details of Each Notification
line Receive key metrics and announcements

You will receive notifications about key metrics and limited-time promotions. If you turn this feature off, you may not be able to participate in limited-time promotions.

line Received a round number notification

A feature that sends notifications when a price reaches a round number. Receiving these notifications helps traders capitalize on trading opportunities and manage risk, which is why many traders are taking notice.

polygon USDJPY

Notifications are sent for every 100 pips (1 JPY) (e.g., 1 USD = 147 JPY, 1 USD = 148 JPY, etc.). Notifications for the same exchange rate are reset after 3 days (72 hours) have passed.

polygon XAUUSD

Notifications are sent every 500 pips (50 USD) (e.g., $3,000, $3,050, etc.). Notifications for the same rate are reset after 3 days (72 hours) have passed.

polygon BTCUSD

Notifications are sent for every 5,000 USD (e.g., 110,000 USD, 115,000 USD, etc.). Notifications for the same exchange rate are reset after 3 days (72 hours) have passed.

line Received notification of sudden price fluctuations (sharp rises or falls in exchange rates)

Receive real-time notifications of price fluctuations for USD/JPY, gold, and Bitcoin. Never miss a trading opportunity, even when you're on the go, and place orders that instantly respond to market conditions.

polygon USDJPY

You will receive a notification when there is a fluctuation of 30 pips (0.3 JPY) or more within 10 minutes (sharp rise or sharp drop). After that, notifications for sudden fluctuations under the same conditions will be suspended for 1 hour.

polygon XAUUSD

You will receive a notification when the price fluctuates by more than 20 USD within an hour (sharp rise or sharp drop). After that, notifications for sudden price fluctuations under the same conditions will be paused for 4 hours.

polygon BTCUSD

You will receive a notification when the price fluctuates by more than 2,000 USD within one hour (sharp rise or sharp drop). After that, notifications for sudden price fluctuations under the same conditions will be suspended for 4 hours.

Return to Notification Settings