(Last Updated September 6, 2021 23:16 GMT)
Currently, CHFJPY’s rate is down -180 pips (-0.02%) from the hour prior. It’s been a feast for bears operating on an hourly timeframe, as CHFJPY has now gone down 5 of the past 5 hours. Regarding the trend, note that the strongest trend exists on the 100 hour timeframe. Price action traders may also wish to note that we see some doji and pin bar candlestick patterns on CHFJPY. Given that we see downtrend on the 5 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)
After 3 up days, CHFJPY snaps its streak, falling 22 pips (-0.18%) over the past day to close at an exchange rate of 120.015. Relative to other instruments in the Forex asset class, CHFJPY ranked 32nd the previous day in terms of percentage price change. Let’s take a look at price chart of CHFJPY.
CHFJPY Technical Analysis
First things first: CHFJPY crossed below its 50 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 7.6 pips away. The clearest trend exists on the 90 day timeframe, which shows price moving down over that time. Or to simplify this another way, note that out of the past 10 days CHFJPY’s price has gone up 6 them.