CHFJPY Down 5 Pips On Hourly Chart; Breaks Above 20 Day Average

Hourly Update

(Last Updated September 1, 2021 3:16 GMT)

Currently, CHFJPY’s rate is down -520 pips (-0.04%) from the hour prior. The hourly chart shows that CHFJPY has seen 2 straight down hours. If you’re a trader with a preference for rangebound markets, you may wish to note that there isn’t a clear trend on the 20, 50 and 100 hour timeframes. 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 entered today at 120.162, up 30 pips (0.25%) from the previous day. Compared to its peers in the Forex, CHFJPY gave its buyers a return that ranked 11th in terms of percentage change since the previous day. Here is a price chart of CHFJPY.

CHFJPY

CHFJPY Technical Analysis

Notably, CHFJPY crossed above its 20 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 0.2 pips away. Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving up. Or to simplify this another way, note that out of the past 10 days CHFJPY’s price has gone up 5 them.

The View From Around the Web

Not much commentary on CHFJPY that we’re finding noteworthy here; as such, there’s not much we can say about sentiment. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

CHFJPY will fall down then will bounce again to a higher levelwhat do you think ?………………………………………….