CHF/JPY Down 2 Pips On Hourly Chart; Moves Down For the 3rd Straight Day

Hourly Update

(Last Updated November 16, 2021 1:45 GMT)

At the time of this writing, CHFJPY’s rate is down -200 pips (-0.02%) 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. Regarding the trend, note that the strongest trend exists on the 100 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)

CHFJPY is down 30 pips (0.24%) since the previous day (opening today near 123.354), marking the 3rd straight day a decrease has occurred. Out of the 39 instruments in the Forex asset class, CHFJPY ended up ranking 26th for the day in terms of price change. Here is a price chart of CHFJPY.

CHFJPY

CHFJPY Technical Analysis

Notably, CHFJPY is now close to its 20, 50 and 100 day averages, located at 124.1932, 121.7498 and 120.935 respectively, and thus may be at a key juncture along those timeframes. 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 9 out of the past 14 days.