CHFJPY Down 6 Pips in Last Hour, 2 Day Down Streak Broken; Doji Pattern Appearing on Chart

Hourly Update

(Last Updated September 10, 2021 2:16 GMT)

At the time of this writing, CHFJPY’s rate is down -650 pips (-0.05%) 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 100 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 entered today at 119.77, up 21 pips (0.18%) from the day prior. Compared to its peers in the Forex, CHFJPY gave its buyers a return that ranked 5th in terms of percentage change since the day prior. Below is a price chart of CHFJPY.

CHFJPY

CHFJPY Technical Analysis

The first thing we should note is that the current price of CHFJPY is sitting close to its 20, 50, 100 and 200 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. 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 18.5 pips away. It should be noted, though, the 20 day simple moving average turned upwards, which may be a bullish sign. Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving down. For additional context, note that price has gone up 14 out of the past 30 days. And for candlestick traders, a special treat: there is a doji pattern showing up on the charts as well. Rejoice!