(Last Updated April 28, 2021 2:17 GMT)
At the time of this writing, CHFJPY’s rate is up 480 pips (0.04%) 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 20 hour timeframe. 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)
CHFJPY is up 72 pips (0.61%) since the previous day (opening today near 119.002), marking the 3rd straight day an upward move has occurred. Compared to its peers in the Forex, CHFJPY gave its buyers a return that ranked 5th in terms of percentage change since the previous day. Let’s take a look at price chart of CHFJPY.
CHFJPY Technical Analysis
Notably, the current price of CHFJPY is sitting close to its 20, 50, 100 and 200 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. 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. Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving up. Or to simplify this another way, note that out of the past 30 days CHFJPY’s price has gone up 16 them.