CHF/JPY Heads Down For the 2nd Day In A Row

CHF/JPY Price Recap

CHF/JPY is down 53 pips (0.48%) since yesterday (with its current price near 110.845), marking the 2nd day in a row it has gone down. The price move occurred on stronger volume, as measured by the number of tick price changes; specifically, yesterday’s volume was up 26.65% from the day prior, and up 122.74% from the same day the week before. Relative to other instruments in the Forex asset class, CHF/JPY ranked 22nd yesterday in terms of percentage price change. 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 112.3755, 112.5653, 111.4123 and 110.1633 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 100 day average, which is 56.7 pips away. Related to the moving average crossover is that CHF/JPY’s momentum/trend on a 14 day basis may be decelerating. For additional context, note that price has gone up 17 out of the past 30 days.