CHF/JPY Down 18 Pips On Hourly Chart, Entered Today Down For the 3rd Straight Day; Nears 50 Day Moving Average

Hourly Update

(Last Updated August 2, 2022 1:37 GMT)

At the time of this writing, CHFJPY’s rate is down -1820 pips (-0.13%) from the hour prior. The hourly chart shows that CHFJPY has seen 2 straight down hours. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 20 hour timeframe. Price action traders may also wish to note that we see a doji candlestick pattern 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 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)

CHFJPY is down 24 pips (0.17%) since the previous day (opening today near 139.27), marking the 3rd straight day it has gone down. Compared to its peers in the Forex, CHFJPY gave its buyers a return that ranked 23rd in terms of percentage change since the previous day. Let’s take a look at price chart of CHFJPY.

CHFJPY

CHFJPY Technical Analysis

Notably, CHFJPY is now close to its 20 and 50 day averages, located at 140.8335 and 138.7011 respectively, and thus may be at a key juncture along those timeframes. 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 14 days CHFJPY’s price has gone up 7 them.

The View From Around the Web

Of note is that traders in aggregate have opinions on CHFJPY, with 5 buy signals on our radar and 6 sell signals. This imputes a buy/sell ratio of 0.83, which is neutral. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

All JPY pairs are down. very good sale. It would be wise to wait for corrections.Follow for more on all sides.