(Last Updated November 19, 2020 2:17 GMT)
At the moment, CHFJPY’s rate is down -980 pips (-0.09%) from the hour prior. It’s been a feast for bears operating on an hourly timeframe, as CHFJPY has now gone down 4 of the past 5 hours. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 100 hour timeframe. The moving averages on the hourly timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.
CHFJPY End of Day Recap
Updated 00:30 GMT (04:30 EST)
CHFJPY is down 49 pips (0.43%) since yesterday (opening today near 113.81), marking the 4th consecutive day it has gone down. Out of the 40 instruments in the Forex asset class, CHFJPY ended up ranking 34th for the day in terms of price change. Here is a price chart of CHFJPY.
CHFJPY Technical Analysis
Notably, the current price of CHFJPY is sitting close to its 20, 50, 100 and 200 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. 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 200 day average, which is 24.4 pips away. The clearest trend exists on the 30 day timeframe, which shows price moving down over that time. Or to simplify this another way, note that out of the past 30 days CHFJPY’s price has gone down 18 them.