CHF/JPY Down 4 Pips Over Past Hour, Makes Big Move Relative to Two Week Trend; Breaks Below 20, 50 and 100 Day Averages

Hourly Update

(Last Updated August 27, 2021 2:4 GMT)

At the time of this writing, CHFJPY’s rate is down -370 pips (-0.03%) from the hour prior. The hourly chart shows that CHFJPY has seen 2 straight down hours. Regarding the trend, note that the strongest trend 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)

The back and forth price flow continues for CHFJPY, which started today off at 119.909, down 46 pips 0.38% from the previous day. Relative to other instruments in the Forex asset class, CHFJPY ranked 35th the previous day in terms of percentage price change. Here is a price chart of CHFJPY.

CHFJPY

CHFJPY Technical Analysis

First things first: CHFJPY crossed below its 20, 50 and 100 day moving averages 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 20 day average, which is 21.7 pips away. 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. Or to simplify this another way, note that out of the past 30 days CHFJPY’s price has gone up 16 them.