(Last Updated September 16, 2021 2:16 GMT)
At the time of this writing, CHFJPY’s rate is down -300 pips (-0.03%) 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. 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)
The choppiness in the recent daily price action of CHFJPY continues; to start today, it came in at a price of 118.883, down 36 pips (0.3%) since the previous day. Compared to its peers in the Forex, CHFJPY gave its buyers a return that ranked 30th in terms of percentage change since the previous day. The price chart of CHFJPY below illustrates.
CHFJPY Technical Analysis
Moving average crossovers are always interesting, so let’s start there: CHFJPY crossed below its 200 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 200 day average, which is 0.1 pips away. It should be noted, though, the 100 day simple moving average turned downwards, which may be a bearish sign. The clearest trend exists on the 14 day timeframe, which shows price moving down over that time. For additional context, note that price has gone down 15 out of the past 30 days.