CHF/JPY Down 25 Pips Over Past Hour, in an Uptrend Over Past 14 Days; Sentiment Suggests Sellers in Charge

Hourly Update

(Last Updated September 16, 2022 1:39 GMT)

At the moment, CHFJPY’s rate is down -2460 pips (-0.16%) from the hour prior. It’s been a feast for bears operating on an hourly timeframe, as CHFJPY has now gone down 9 of the past 10 hours. As for the trend on the hourly timeframe, we see the clearest trend on the 50 hour timeframe. Price action traders may also wish to note that we see a pin bar candlestick pattern on CHFJPY. Given that we see downtrend on the 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 entered today at 149.18, up 4 pips (0.03%) from the previous day. Out of the 39 instruments in the Forex asset class, CHFJPY ended up ranking 20th for the day in terms of price change. Here is a price chart of CHFJPY.

CHFJPY

CHFJPY Technical Analysis

The clearest trend exists on the 14 day timeframe, which shows price moving up over that time. For additional context, note that price has gone up 19 out of the past 30 days.

The View From Around the Web

Not much in terms quality buy/sell signals we’re seeing for CHFJPY; just 2 sell signals and 0 buy signals. This imputes a buy/sell ratio of 0, which is quite bearish. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

Looking to take short positions upon the recently formed supply which confluence with the inner h1 supply…The market is still looking for liquidity,we can tell because price unturned prematurely.