CHFJPY Down 0 Pips Over Past Hour, Fares the Worst Out of Forex; is Inching Close to 20 Day Average

Hourly Update

(Last Updated February 19, 2021 0:19 GMT)

Currently, CHFJPY’s rate is down 30 pips (0%) from the hour prior. This move is a reversal from the hour prior, which saw price move up. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 50 hour timeframe. Price action traders may also wish to note that we see a doji candlestick pattern on CHFJPY. Given that we see an uptrend on the 20 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 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)

The back and forth price flow continues for CHFJPY, which started today off at 117.801, down 97 pips 0.82% from yesterday. On a relative basis, CHFJPY was the worst performer out of all 39 of the assets in the Forex asset class. Here is a price chart of CHFJPY.

CHFJPY

CHFJPY Technical Analysis

Coming into today CHFJPY is now close to its 20, 50, 100 and 200 day averages, located at 117.3341, 117.0801, 116.094 and 115.1765 respectively, and thus may be at a key juncture along those timeframes. The clearest trend exists on the 14 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 15 them. We’re also seeing a bearish engulfing pattern form over the past two candles, which suggests the uptrend on the 14, 90 and 30 day