(Last Updated October 13, 2020 2:16 GMT)
At the moment, CHFJPY’s rate is down -920 pips (-0.08%) 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 100 hour timeframe. Most noteworthy in the world of moving averages on the hourly chart is that the 20 and 50 hour moving averages have been crossed, so that price is now turning below them. The moving averages on the hourly timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 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)
After 3 up days, CHFJPY snaps its streak, falling 27 pips (-0.24%) over the past day to close at an exchange rate of 115.785. Compared to its peers in the Forex, CHFJPY gave its buyers a return that ranked 27th in terms of percentage change since the day prior. Below is a price chart of CHFJPY.
CHFJPY Technical Analysis
Notably, CHFJPY crossed below its 50 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 50 day average, which is 3.6 pips away. The clearest trend exists on the 14 day timeframe, which shows price moving up over that time. Interestingly, a trend in the other direction exists on the 30 day timeframe, where price is headed down. For additional context, note that price has gone up 6 out of the past 10 days.