(Last Updated June 30, 2021 3:18 GMT)
At the time of this writing, CHFJPY’s rate is down -460 pips (-0.04%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved up. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 100 hour timeframe. The moving averages on the hourly timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 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 is down 22 pips (0.18%) since yesterday (opening today near 120.021), marking the 2nd day in a row it has gone down. Out of the 39 instruments in the Forex asset class, CHFJPY ended up ranking 23rd for the day in terms of price change. Let’s take a look at price chart of CHFJPY.
CHFJPY Technical Analysis
Notably, CHFJPY is now close to its 20, 50, 100 and 200 day averages, located at 121.3022, 120.7546, 119.0839 and 117.4705 respectively, and thus may be at a key juncture along those timeframes. 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 and 30 day timeframes. For additional context, note that price has gone up 15 out of the past 30 days.