(Last Updated January 14, 2021 2:18 GMT)
At the moment, CHFJPY’s rate is up 1010 pips (0.09%) from the hour prior. The hourly chart shows that CHFJPY has seen 2 straight up hours. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 100 hour timeframe. Regarding moving averages, it should first be noted that price has crossed the 200 and 50 hour moving averages, resulting in them so that price is now turning above them. 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 2 pips (0.02%) since the previous day (opening today near 117.006), marking the 3rd consecutive day a decrease has occurred. Compared to its peers in the Forex, CHFJPY gave its buyers a return that ranked 17th in terms of percentage change since the previous day. 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 116.8412, 115.9309, 115.6816 and 114.3296 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 14 day horizon; over that time period, price has been moving up. Or to simplify this another way, note that out of the past 10 days CHFJPY’s price has gone down 7 them. And for candlestick traders, a special treat: there is a pin bar pattern showing up on the charts as well. Rejoice!