(Last Updated February 24, 2021 0:19 GMT)
At the moment, CHFJPY’s rate is down 10 pips (0%) from the hour prior. CHFJPY has seen its price go down 8 out of the past 10 hours, thus creating some compelling opportunities for bears. Regarding the trend, note that the strongest trend exists on the 100 hour timeframe. Price action traders may also wish to note that we see some doji and pin bar candlestick patterns on CHFJPY. Given that we see downtrend 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 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 40 pips (0.34%) since the day prior (opening today near 117.194), marking the 2nd day in a row it has gone down. Compared to its peers in the Forex, CHFJPY gave its buyers a return that ranked 35th in terms of percentage change since the day prior. Below is a price chart of CHFJPY.
CHFJPY Technical Analysis
First things first: CHFJPY crossed below its 20 day moving average yesterday. Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving up. Or to simplify this another way, note that out of the past 10 days CHFJPY’s price has gone up 6 them.