CHF/JPY Down 0 Pips in Last Hour, Crosses 20 and 50 Day Moving Averages; Doji Pattern Appearing on Chart

Hourly Update

(Last Updated November 23, 2022 2:20 GMT)

At the moment, CHFJPY’s rate is down 40 pips (0%) from the hour prior. This move is a reversal from the hour prior, which saw price move up. As for the trend on the hourly timeframe, we see the clearest trend on the 50 hour timeframe. The moving averages on the hourly timeframe suggest a choppiness in price, as the are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.

CHFJPY End of Day Recap

Updated 00:30 GMT (04:30 EST)

CHFJPY is up 42 pips (0.28%) since the day prior (opening today near 147.93), marking the 2nd consecutive day an upward move has occurred. Out of the 39 instruments in the Forex asset class, CHFJPY ended up ranking 7th for the day in terms of price change. Here is a price chart of CHFJPY.

CHFJPY

CHFJPY Technical Analysis

Moving average crossovers are always interesting, so let’s start there: CHFJPY crossed above its 20 and 50 day moving averages yesterday. Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving up. Or to simplify this another way, note that out of the past 30 days CHFJPY’s price has gone up 16 them. And for candlestick traders, a special treat: there is a doji pattern showing up on the charts as well. Rejoice!

The View From Around the Web

Of note is that traders in aggregate have opinions on CHFJPY, with 3 buy signals on our radar and 4 sell signals. This imputes a buy/sell ratio of 0.75, which is bearish. As for the rationale, technical traders seem to be citing the appearance of a supply zone technical pattern. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

chfjpy sell bear short I think it’s a good time for sales in high temporalities you can see that the price has had a long bullish umpulse, I think it’s time to correct a little