(Last Updated May 11, 2022 1:42 GMT)
Currently, CHFJPY’s rate is down -430 pips (-0.03%) 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 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 down 45 pips (0.34%) since the previous day (opening today near 130.897), marking the 8th day in a row it has gone down. Out of the 39 instruments in the Forex asset class, CHFJPY ended up ranking 30th for the day in terms of price change. Below is a price chart of CHFJPY.
CHFJPY Technical Analysis
First things first: CHFJPY crossed below its 50 day moving average yesterday. The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. It should be noted, though, that a trend in the opposite direction, going down, exists on the 14 day timeframe. Or to simplify this another way, note that out of the past 30 days CHFJPY’s price has gone down 18 them. Oh, and one last thing: if you trade off of candlesticks, note that we’re seeing doji pattern appearing here.
The View From Around the Web
Not much in terms quality buy/sell signals we’re seeing for CHFJPY; just 2 sell signals and 0 buy signals. This imputes a buy/sell ratio of 0, which is quite bearish. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.
Pair Name : CHF/JPYTime Frame : 4hrs Scale Type : Large Scale Analysis Way : Volume + Classic + High & low + Market Map Direction : / Short➕ Educational —————**-✔️ Update – VIP Opportunity ————Down + 110 PIP.Target Hit ( 1 )+ 5 % Account GrowthGood luck