(Last Updated February 12, 2021 17:21 GMT)
At the moment, CHFJPY’s rate is up 1180 pips (0.1%) from the hour prior. CHFJPY has seen its price go up 4 out of the past 5 hours, thus creating some compelling opportunities for bulls. Regarding the trend, note that the strongest trend exists on the 50 hour timeframe. Most noteworthy in the world of moving averages on the hourly chart is that the 20 hour moving average has been crossed, so that price is now turning above it. 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 17 pips (0.14%) since the previous day (opening today near 117.677), 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 17th for the day in terms of price change. The price chart of CHFJPY below illustrates.
CHFJPY Technical Analysis
The first thing we should note is that 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. 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. Or to simplify this another way, note that out of the past 30 days CHFJPY’s price has gone up 15 them. Oh, and one last thing: if you trade off of candlesticks, note that we’re seeing pin bar pattern appearing here.