CHF/JPY Down 20 Pips in Last 4 Hours, Crosses 20 Day Moving Average; in a Downtrend Over Past 30 Days

CHF/JPY 4 Hour Price Update

Updated March 24, 2020 03:20 AM GMT (11:20 PM EST)

CHF/JPY is down 20 pips (0.18%) since the previous 4 hours (opening the current 4 hour candle near 112.897), marking the 2nd candle in a row it has gone down. Relative to other instruments in the Forex asset class, CHF/JPY ranked 24th the previous 4 hours in terms of percentage price change.

CHF/JPY Daily New York Session Recap

Updated 21:00 GMT (17:00 EST)

CHF/JPY is up 1 pips (0.01%) since yesterday’s New York session (opening today’s post-New York session near 112.298), marking the 2nd day in a row an upward move has occurred. The price move occurred on stronger volume, as measured by the number of tick price changes; specifically, yesterday’s volume was up 5.33% from the day prior, and up 61.32% from the same day the week before. Compared to its peers in the Forex, CHF/JPY gave its buyers a return that ranked 25th in terms of percentage change since yesterday’s New York session. The price chart of CHF/JPY below illustrates.

CHF/JPY Technical Analysis

Moving average crossovers are always interesting, so let’s start there: CHF/JPY 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 20 day average, which is 7.3 pips away. The clearest trend exists on the 30 day timeframe, which shows price moving down over that time. For additional context, note that price has gone up 5 out of the past 10 days. Oh, and one last thing: if you trade off of candlesticks, note that we’re seeing pin bar pattern appearing here.

The View From Around the Web

We’re seeing some traders come out with interesting conviction on CHFJPY, with 4 buy signals on our radar and 2 sell signals. This imputes a buy/sell ratio of 2, which is bullish. Here’s a piece we found on tradingview.com that we thought you might enjoy.