(Last Updated April 22, 2021 2:17 GMT)
At the moment, CHFJPY’s rate is down 40 pips (0%) from the hour prior. CHFJPY has seen its price go down 4 out of the past 5 hours, thus creating some compelling opportunities for bears. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 50 hour timeframe. The moving averages on the hourly timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.
CHFJPY End of Day Recap
Updated 00:30 GMT (04:30 EST)
CHFJPY is down 19 pips (0.16%) since yesterday (opening today near 117.83), marking the 3rd day in a row it has gone down. Compared to its peers in the Forex, CHFJPY gave its buyers a return that ranked 23rd in terms of percentage change since yesterday. The price chart of CHFJPY below illustrates.
CHFJPY Technical Analysis
The first thing we should note is that CHFJPY is now close to its 20, 50, 100 and 200 day moving averages, which may act as price barrier for the asset. 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. The clearest trend exists on the 30 day timeframe, which shows price moving up over that time. Or to simplify this another way, note that out of the past 30 days CHFJPY’s price has gone up 16 them.