(Last Updated May 4, 2021 2:17 GMT)
Currently, CHFJPY’s rate is down -580 pips (-0.05%) 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 100 hour timeframe. 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)
CHFJPY is down 1 pips (0.01%) since the previous day (opening today near 119.691), marking the 2nd consecutive day a decline has happened. Relative to other instruments in the Forex asset class, CHFJPY ranked 23rd the previous day in terms of percentage price change. Below is a price chart of CHFJPY.
CHFJPY Technical Analysis
Coming into today CHFJPY is now close to its 20, 50 and 100 day moving averages, which may act as price barrier for the asset. Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving up. For additional context, note that price has gone up 5 out of the past 10 days. Oh, and one last thing: if you trade off of candlesticks, note that we’re seeing pin bar pattern appearing here.