search

An incredible cashback rate!
40% of the spread!

Join Now

Should We Watch the Direction of the CAD/JPY Pair, Which Fell Due to a Drop in Canadian CPI?

Market Report

  1. homeHOME
  2. Market Report
  3. Should We Watch the Direction of the CAD/JPY Pair, Which Fell on the Back of Lower Canadian CPI?

Should We Watch the Direction of the CAD/JPY Pair, Which Fell on the Back of Lower Canadian CPI?

18.12.2024

Today's Highlights
  1. U.S. FOMC Policy Rate and Statement Announcement
  2. European Consumer Price Index

In yesterday’s U.S. currency trading, the Canadian dollar fell against the yen after Canada’s November Consumer Price Index, released yesterday, showed a year-over-year decline from 2.0% the previous month to 1.9%. The CAD/JPY pair fell from 108.410 to 107.051.It broke below the support line formed by the 200-period simple moving average (SMA) on the hourly chart. On the 4-hour chart, the pair has rebounded after hitting resistance at the 200-period exponential moving average (EMA), and on the daily chart, it has begun to decline after touching the 20-period moving average (MA).

Among European currencies, the pound rose against the U.S. dollar. The GBP/USD pair rose from 1.2665 to 1.2728, continuing its upward trend along the 20-period moving average (MA) on the hourly chart.On the 4-hour chart, the pair has broken through the 20-period moving average, which had been acting as a resistance line, and on the daily chart, it has rebounded firmly before reaching last month’s low. We will be watching price action during U.S. trading hours to see if the pound’s rebound continues.

Today, at 16:00: UK Consumer Price Index, UK Producer Price Index, and UK Retail Sales; at 18:30: remarks by Nagel, President of the German Federal Bank; at 19:00: Eurozone Consumer Price Index; at 20:00: UKCBI Business Survey, at 9:00 PM the U.S. MBA Mortgage Applications Index, at 10:30 PM U.S. Housing Starts, at 12:30 AM U.S. Weekly Crude Oil Inventories,28:00 U.S. FOMC policy rate decision and statement, and 28:30 remarks by U.S. Federal Reserve Chair Powell are scheduled. I intend to carefully monitor the direction of the CAD/JPY pair, which has fallen due to the decline in the Canadian CPI.

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 Wary of U.S. Dollar Movements Ahead of the FOMC Meeting?

Next Article

All Eyes on the Direction of the Euro/Yen, Which Has Reversed Course from a Rise to a Decline
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