(Last Updated September 17, 2021 1:16 GMT)
At the time of this writing, CHFJPY’s rate is up 90 pips (0.01%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved down. As for the trend on the hourly timeframe, we see the clearest trend on the 50 hour timeframe. 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 118.883, down 36 pips (0.3%) since the day prior. Relative to other instruments in the Forex asset class, CHFJPY ranked 30th the day prior in terms of percentage price change. Here is a price chart of CHFJPY.
CHFJPY Technical Analysis
Notably, CHFJPY crossed below its 200 day moving average 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 200 day average, which is 0.1 pips away. It should be noted, though, the 100 day simple moving average turned downwards, which may be a bearish sign. Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving down. For additional context, note that price has gone down 7 out of the past 14 days.