(Last Updated April 8, 2021 3:17 GMT)
At the moment, CHFJPY’s rate is up 310 pips (0.03%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved down. Regarding the trend, note that the strongest trend exists on the 100 hour timeframe. The moving averages on the hourly timeframe suggest a bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend.
CHFJPY End of Day Recap
Updated 00:30 GMT (04:30 EST)
CHFJPY is up 26 pips (0.22%) since the day prior (opening today near 118.18), marking the 3rd day in a row it has gone up. Out of the 39 instruments in the Forex asset class, CHFJPY ended up ranking 7th for the day in terms of price change. Let’s take a look at price chart of CHFJPY.
CHFJPY Technical Analysis
Notably, the current price of CHFJPY is sitting close to its 20, 50, 100 and 200 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. For additional context, note that price has gone up 7 out of the past 10 days. Also, candlestick traders! Note we see doji pattern appearing here as well.