CADJPY Bullish

Analysis Price: 114.760 (Updated: 19 August 2026, 00:17 UTC)

Comprehensive analysis for CADJPY showing a predominantly bullish bias with 64% bullish signal balance based on combined analytical factors. Raw trader sentiment shows 39% long, 61% short. Market structure, technical patterns, and key levels examined across multiple timeframes.

View CADJPY sentiment overview

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Signal Overview

Bullish Medium Confidence High Risk

Signal Balance:

64% Long

36% Short

Valid Timeframes:

M15 H1 H4 D1

Signal Analysis:

The analysis indicates a medium confidence bullish bias for CADJPY (signal strength: 28%). Supporting factors include: Price is near a support level at 114.636 (0.11% below current price); CAD is showing relative strength against JPY (diff: 32%). Contradicting factors: Retail sentiment is 61% bearish. Risk assessment for this trade is high. This signal is most valid on the M15, H1, H4, D1 timeframes.

Sentiment Analysis

Note: The sentiment chart below shows actual trader positioning data (39% long / 61% short). The overall bullish bias (64%) mentioned in the page header represents our signal balance based on combined technical factors beyond raw sentiment.

LONG SHORT

39% 61%

Historical Sentiment

Sentiment Interpretation

Bearish sentiment with 61% of traders holding short positions. The market has a negative bias, but watch for signs of exhaustion if this percentage increases further.

Support & Resistance Analysis

Analysis Price: 114.760

Resistance Levels

R1: 115.205 0.39% ↑

R2: 116.024 1.10% ↑

R3: 116.472 1.49% ↑

Support Levels

S1: 114.636 0.11% ↓

S2: 113.991 0.67% ↓

S3: 113.522 1.08% ↓

Market Regime:

Uptrend

Analyst Bias:

Bullish

Analyst Comment:

Uninterrupted recovery from 110.83 with MACD firmly positive and 70% retail shorts. Long while above 114.64, first target 115.20.

Direction Probability:

62%

Price Position Analysis

Price is currently near support at 114.636 (0.11% below analysis price) with resistance at 115.205 (0.39% above). This position near support could present a potential buying opportunity with a favorable risk-reward ratio.

Chart Pattern Analysis

75%

Double Top

Reliability:

75%

Detected: Aug 18, 08:00

63%

Bullish Engulfing

Reliability:

63%

Detected: Aug 18, 21:00

63%

Bullish Engulfing

Reliability:

63%

Detected: Aug 18, 19:00

50%

Doji

Reliability:

50%

Detected: Aug 18, 00:00

Pattern Analysis Interpretation

Predominantly bullish patterns detected across timeframes, suggesting upward momentum. The most reliable pattern is a bearish Double Top on the H4 timeframe with 75% historical reliability. Multiple timeframes showing pattern confirmation increases the reliability of the signal.

High Probability Zones

Resistance Zone

71%

Zone Level:

115.205

analysis price:

114.760

Distance:

0.27%

Confluence Factors:

Double Top 24% Retracement

Valid on Timeframes:

H1 H4 D1 W1

Resistance Zone

70%

Zone Level:

116.024

analysis price:

114.760

Distance:

0.99%

Confluence Factors:

Double Top

Valid on Timeframes:

D1 W1

Support Zone

59%

Zone Level:

113.991

analysis price:

114.760

Distance:

0.78%

Confluence Factors:

Valid on Timeframes:

D1 W1

Support Zone

56%

Zone Level:

114.636

analysis price:

114.760

Distance:

0.22%

Confluence Factors:

Valid on Timeframes:

H1 H4 D1 W1

High Probability Zones Interpretation

Price is extremely close to a high probability (71%) resistance zone at 115.205. This presents a potential selling opportunity with stop loss slightly above the zone. Multiple confluence factors strengthen this level's significance.

Multiple high probability zones exist for this pair, indicating a well-structured technical environment with clear levels for trading decisions.

Volatility Analysis

Select Timeframe:

Daily Range (pips):

7.7

Volatility Regime:

Low

Volatility Level:

10-Day ATR Trend

Volatility Interpretation (H1)

CADJPY is exhibiting low volatility (0 percentile) with an expected daily range of just 7.7 pips. This reduced movement typically indicates consolidation or indecision in the market. Consider tighter stop losses but be aware that breakout potential increases after periods of low volatility.

Correlation Analysis

Top Correlations with CADJPY

EURJPY

0.95

USDJPY

0.92

GBPJPY

0.86

CHFJPY

0.85

AUDJPY

0.80

Correlation Interpretation

Understanding how CADJPY correlates with other pairs can help with portfolio diversification and risk management. Strong positive correlations (above 0.7) indicate pairs that move similarly, while strong negative correlations (below -0.7) show pairs that typically move in opposite directions.

CADJPY shows strong positive correlation with: EURJPY, USDJPY, GBPJPY, CHFJPY, AUDJPY. This means these pairs tend to move in the same direction. Trading in the same direction on multiple correlated pairs increases portfolio risk, while finding divergences between correlated pairs can highlight potential reversal opportunities.

Currency Strength Analysis

Select Timeframe:

CAD

-0.20

Neutral

JPY

0.79

Very-strong

Relative Strength:

-0.99

Bearish Bias

Currency Strength Interpretation (M15)

JPY is significantly stronger than CAD on the M15 timeframe, with a relative strength of -0.99. This suggests a strong bearish bias for CADJPY. However, this bias is primarily driven by the strength of JPY.

How to Use This Analysis

This comprehensive analysis provides multiple perspectives on CADJPY to help inform your trading decisions:

Sentiment Analysis: Use to understand market positioning and potential contrarian opportunities
Support & Resistance: Identify key price levels for setting stop losses and take profits
Pattern Analysis: Recognize technical formations that may indicate continuation or reversal
Volatility Analysis: Adjust position sizing and risk management based on current market conditions
Currency Strength: Compare the relative performance of individual currencies within the pair
Correlation Analysis: Understand how this pair moves in relation to others for portfolio diversification

For optimal results, consider how these different factors align. The strongest trading opportunities typically occur when multiple analytical tools show confirmation across different timeframes.