CHFJPY Down 10 Pips in Last Hour, Moves Down For the 2nd Day In A Row; in an Uptrend Over Past 90 Days

Hourly Update

(Last Updated June 1, 2021 2:17 GMT)

At the time of this writing, CHFJPY’s rate is down -1020 pips (-0.08%) from the hour prior. This is the 2nd consecutive hour CHFJPY has seen its price head down. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 100 hour timeframe. Regarding moving averages, it should first be noted that price has crossed the 100 and 20 hour moving averages, resulting in them so that price is now turning below them. The moving averages on the hourly timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 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 down 22 pips (0.18%) since the day prior (opening today near 121.882), marking the 2nd day in a row a decline has happened. Relative to other instruments in the Forex asset class, CHFJPY ranked 31st the day prior in terms of percentage price change. The price chart of CHFJPY below illustrates.

CHFJPY

CHFJPY Technical Analysis

Coming into today CHFJPY is now close to its 20 and 50 day averages, located at 121.0108 and 119.1725 respectively, and thus may be at a key juncture along those timeframes. 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. Or to simplify this another way, note that out of the past 10 days CHFJPY’s price has gone up 6 them.