CHF/JPY Price Recap
The choppiness in the recent daily price action of CHF/JPY continues; to start today, it comes in at a price of 111.379 US dollars, down 97 pips (0.87%) since yesterday. The price move occurred on volume — and we’re using the number of tick price changes as a proxy for volume — that was down 22.18% from the day prior, but up 84.22% from the same day the week before. Out of the 40 instruments in the Forex asset class, CHF/JPY ended up ranking 31st for the day in terms of day-over-day price change. Let’s take a look at price chart of CHF/JPY.
CHF/JPY Technical Analysis
Moving average crossovers are always interesting, so let’s start there: CHF/JPY crossed below its 100 day moving average 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 100 day average, which is 2.1 pips away. It should be noted, though, the 50 day simple moving average turned downwards, which may be a bearish sign. Or to simplify this another way, note that out of the past 30 days CHF/JPY’s price has gone up 18 them.