CHFJPY Up 13 Pips Over Past Hour, Makes Big Move Relative to Two Week Trend; Crosses 20, 50 and 100 Day Moving Averages

Hourly Update

(Last Updated August 27, 2021 18:16 GMT)

At the moment, CHFJPY’s rate is up 1330 pips (0.11%) from the hour prior. CHFJPY has seen its price go up 4 out of the past 5 hours, thus creating some compelling opportunities for bulls. Regarding the trend, note that the strongest trend exists on the 20 hour timeframe. Price action traders may also wish to note that we see a doji candlestick pattern on CHFJPY. Given that we see an uptrend on the 20 and 10 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. 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)

The choppiness in the recent daily price action of CHFJPY continues; to start today, it came in at a price of 119.909, down 46 pips (0.38%) since the day prior. Out of the 39 instruments in the Forex asset class, CHFJPY ended up ranking 35th 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 below its 20, 50 and 100 day moving averages yesterday. As for the alignment of the moving averages, well, it’s a bit mixed up; the 20, 50, 100, and 200 do not progress from largest to smallest, or vice versa. The closest is the 20 day average, which is 21.7 pips away. 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. For additional context, note that price has gone up 16 out of the past 30 days.