(Last Updated June 2, 2021 2:18 GMT)
At the moment, CHFJPY’s rate is up 1790 pips (0.15%) from the hour prior. The hourly chart shows that CHFJPY has seen 2 straight up hours. As for the trend on the hourly timeframe, we see the clearest trend 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. Of note is that the 50 hour changed directions on CHFJPY; it is now pointing up. The moving averages on the hourly timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 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 back and forth price flow continues for CHFJPY, which started today off at 122.035, up 15 pips 0.13% from the day prior. Compared to its peers in the Forex, CHFJPY gave its buyers a return that ranked 11th in terms of percentage change since the day prior. Let’s take a look at price chart of CHFJPY.
CHFJPY Technical Analysis
The first thing we should note is that CHFJPY is now close to its 20 and 50 day moving averages, which may act as price barrier for the asset. Volatility for CHFJPY has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. The clearest trend exists on the 30 day timeframe, which shows price moving up over that time. Or to simplify this another way, note that out of the past 14 days CHFJPY’s price has gone up 9 them. Also, candlestick traders! Note we see doji pattern appearing here as well.