CHF/JPY Down 5 Pips On Hourly Chart, Breaks Below 50 Day Average; in an Uptrend Over Past 90 Days

Hourly Update

(Last Updated November 7, 2022 1:37 GMT)

At the moment, CHFJPY’s rate is down -530 pips (-0.04%) from the hour prior. CHFJPY has seen its price go down 4 out of the past 5 hours, thus creating some compelling opportunities for bears. 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. 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 entered today at 146.1, down 139 pips (0.94%) from the previous day. Relative to other instruments in the Forex asset class, CHFJPY ranked 31st the previous day in terms of percentage price change. Let’s take a look at price chart of CHFJPY.

CHFJPY

CHFJPY Technical Analysis

Moving average crossovers are always interesting, so let’s start there: 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 10 days CHFJPY’s price has gone down 6 them. And for candlestick traders, a special treat: there is a pin bar pattern showing up on the charts as well. Rejoice!

The View From Around the Web

Not much in terms quality buy/sell signals we’re seeing for CHFJPY; just 1 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 dailyfx.com; below is a short snippet from it to give you a taste.

The Japanese Yen is trading at or near notable technical levels against the US Dollar, Swiss Franc and Australian Dollar. Here are the charts to watch for USD/JPY, CHF/JPY and AUD/JPY.