CHFJPY Down 10 Pips Over Past Hour, 3 Day Up Streak Ended; in an Uptrend Over Past 14 Days

Hourly Update

(Last Updated May 31, 2021 2:17 GMT)

At the moment, CHFJPY’s rate is down -990 pips (-0.08%) from the hour prior. This move is a reversal from the hour prior, which saw price move up. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 100 hour timeframe. Most noteworthy in the world of moving averages on the hourly chart is that the 50 hour moving average has been crossed, with price now being below it. The moving averages on the hourly timeframe suggest a bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend.

CHFJPY End of Day Recap

Updated 00:30 GMT (04:30 EST)

After 3 up days, CHFJPY snaps its streak, falling 33 pips (-0.27%) over the past day to close at an exchange rate of 122.105. Compared to its peers in the Forex, CHFJPY gave its buyers a return that ranked 33rd in terms of percentage change since the previous day. Here is a price chart of CHFJPY.

CHFJPY

CHFJPY Technical Analysis

Coming into today the current price of CHFJPY is sitting close to its 20 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. Volatility for CHFJPY has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving up. For additional context, note that price has gone up 17 out of the past 30 days.