CHF/JPY Down 6 Pips Over Past Hour, 4 Day Down Streak Broken; Breaks Above 50 Day Average

Hourly Update

(Last Updated August 4, 2022 1:40 GMT)

At the time of this writing, CHFJPY’s rate is down -610 pips (-0.04%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved up. As for the trend on the hourly timeframe, we see the clearest trend on the 20 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)

A moment of silence, please, for the end of CHFJPY’s 4 day down streak; price ended yesterday up 203 pips (1.48%) to finish the day at a rate of 139.481. Out of the 39 instruments in the Forex asset class, CHFJPY ended up ranking 2nd for the day in terms of price change. Let’s take a look at price chart of CHFJPY.

CHFJPY

CHFJPY Technical Analysis

Notably, CHFJPY crossed above its 50 day moving average yesterday. Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving up. It should be noted, though, that a trend in the opposite direction, going down, exists on the 14 day timeframe. For additional context, note that price has gone down 7 out of the past 10 days.