CHF/JPY 4 Hour Price Update
Updated July 09, 2020 09:18 AM GMT (05:18 AM EST)
The back and forth price flow continues for CHF/JPY, which started the current 4 hour candle off at 114.383, down 9 pips 0.08% from the previous 4 hours. Out of the 37 instruments in the Forex asset class, CHF/JPY ended up ranking 28th for the four-hour candle in terms of price change.
CHF/JPY End of Day Recap
Updated 00:30 GMT (04:30 EST)
CHF/JPY is up 4 pips (0.04%) since yesterday (opening today near 114.343), marking the 4th day in a row it has gone up. Relative to other instruments in the Forex asset class, CHF/JPY ranked 20th yesterday in terms of percentage price change. Below is a price chart of CHF/JPY.
CHF/JPY Technical Analysis
Notably, CHF/JPY is now close to its 20, 50, 100 and 200 day moving averages, which may act as price barrier for the asset. 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. For additional context, note that price has gone up 7 out of the past 10 days. Oh, and one last thing: if you trade off of candlesticks, note that we’re seeing doji and pin bar patterns appearing here.
The View From Around the Web
We’re seeing some traders come out with interesting conviction on CHFJPY, with 7 buy signals on our radar and 17 sell signals. This imputes a buy/sell ratio of 0.41, which is bearish. As for the rationale, technical traders seem to be citing the appearance of a double top technical pattern. Here’s a piece we found on tradingview.com that we thought you might enjoy.