(Last Updated September 14, 2022 1:37 GMT)
Currently, CHFJPY’s rate is down -2390 pips (-0.16%) 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 20 hour timeframe. Price action traders may also wish to note that we see a doji candlestick pattern on CHFJPY. Given that we see an uptrend on the 20 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 up 11 pips (0.07%) since yesterday (opening today near 149.5), marking the 6th consecutive day an increase has occurred. Relative to other instruments in the Forex asset class, CHFJPY ranked 17th yesterday in terms of percentage price change. The price chart of CHFJPY below illustrates.
CHFJPY Technical Analysis
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. For additional context, note that price has gone up 20 out of the past 30 days.