(Last Updated September 22, 2022 1:38 GMT)
Currently, CHFJPY’s rate is down -3110 pips (-0.21%) from the hour prior. This move is a reversal from the hour prior, which saw price move up. As for the trend on the hourly timeframe, we see the clearest trend on the 50 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)
CHFJPY is up 43 pips (0.29%) since yesterday (opening today near 149.03), marking the 2nd day in a row an upward move has occurred. Relative to other instruments in the Forex asset class, CHFJPY ranked 7th yesterday in terms of percentage price change. Here is a price chart of CHFJPY.
CHFJPY Technical Analysis
The first thing we should note is that the current price of CHFJPY is sitting close to its 20 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving up. For additional context, note that price has gone up 10 out of the past 14 days. And for candlestick traders, a special treat: there is a pin bar pattern showing up on the charts as well. Rejoice!