CHF/JPY Down 32 Pips Over Past 4 Hours, Price Base in Formation Over Past 90 Days; Pin Bar Pattern Appearing on Chart

CHF/JPY 4 Hour Price Update

Updated June 23, 2020 01:12 PM GMT (09:12 AM EST)

A moment of silence, please, for the end of CHF/JPY’s 5 four-hour candle up streak; price ended the last 4 hour candle down 32 pips (-0.28%) to finish the four-hour candle at a rate of 113.074. Relative to other instruments in the Forex asset class, CHF/JPY ranked 33rd the last 4 hour candle in terms of percentage price change.

CHF/JPY End of Day Recap

Updated 00:30 GMT (04:30 EST)

CHF/JPY is up 9 pips (0.08%) since the day prior (opening today near 112.88), marking the 3rd day in a row it has gone up. Compared to its peers in the Forex, CHF/JPY gave its buyers a return that ranked 19th in terms of percentage change since the day prior. Here is a price chart of CHF/JPY.

CHF/JPY Technical Analysis

The first thing we should note is that CHF/JPY is now close to its 20, 50, 100 and 200 day averages, located at 112.9937, 111.5093, 111.699 and 111.6115 respectively, and thus may be at a key juncture along those timeframes. 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 11.4 pips away. Volatility for CHF/JPY has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. The clearest trend exists on the 14 day timeframe, which shows price moving down over that time. It should be noted, though, that a trend in the opposite direction, going up, exists on the 30 day timeframe. Also of note is that on a 90 day basis price appears to be forming a base — which could the stage for it being a support/resistance level going forward. Or to simplify this another way, note that out of the past 10 days CHF/JPY’s price has gone up 5 them. Also, candlestick traders! Note we see pin bar pattern appearing here as well.