Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving down.
It should be noted, though, that a trend in the opposite direction, going up, exists on the 30 day timeframe.
For additional context, note that price has gone up 7 out of the past 14 days.
The closest is the 20 day average, which is 107 pips away.
This imputes a buy/sell ratio of 1.83, which is bullish.
Compared to its peers in the forex, chf/jpy gave its buyers a return that ranked 7th in terms of percentage change since yesterday.
As for the rationale, technical traders seem to be citing the appearance of double top and flag technical patterns.
As for the alignment of the moving averages, well, it’s a bit mixed up; the 20, 50, 100, and 200 do not progress from largest to smallest, or vice versa.
This imputes a buy/sell ratio of 0, which is quite bearish.
But, let’s not get carried away with that idea just yet. 🙂 as for the rationale, technical traders seem to be citing the appearance of a fibonacci technical pattern.