(Last Updated July 13, 2022 1:37 GMT)
At the time of this writing, CHFJPY’s rate is down -1360 pips (-0.1%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved up. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists 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 139.26, down 52 pips (0.37%) since the day prior. Relative to other instruments in the Forex asset class, CHFJPY ranked 32nd the day prior in terms of percentage price change. Below is a price chart of CHFJPY.
CHFJPY Technical Analysis
First things first: CHFJPY crossed below its 20 day moving average yesterday. 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. The clearest trend exists on the 30 day timeframe, which shows price moving up over that time. For additional context, note that price has gone down 8 out of the past 14 days.