(Last Updated May 3, 2021 2:17 GMT)
At the time of this writing, CHFJPY’s rate is up 490 pips (0.04%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved down. Regarding the trend, note that the strongest trend exists on the 50 hour timeframe. Most noteworthy in the world of moving averages on the hourly chart is that the 20 hour moving average has been crossed, with price now being above 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)
A moment of silence, please, for the end of CHFJPY’s 5 day up streak; price ended the previous day down 6 pips (-0.05%) to finish the day at a rate of 119.704. Out of the 39 instruments in the Forex asset class, CHFJPY ended up ranking 26th for the day in terms of price change. Here is a price chart of CHFJPY.
CHFJPY Technical Analysis
Notably, CHFJPY is now close to its 20, 50 and 100 day moving averages, which may act as price barrier for the asset. The clearest trend exists on the 14 day timeframe, which shows price moving up over that time. For additional context, note that price has gone up 17 out of the past 30 days. And for candlestick traders, a special treat: there is a doji pattern showing up on the charts as well. Rejoice!