(Last Updated April 9, 2021 3:17 GMT)
Currently, CHFJPY’s rate is up 710 pips (0.06%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved down. 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 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 11 pips (0.09%) since yesterday (opening today near 118.29), marking the 4th day in a row an upward move has occurred. Relative to other instruments in the Forex asset class, CHFJPY ranked 12th yesterday in terms of percentage price change. The price chart of CHFJPY below illustrates.
CHFJPY Technical Analysis
The first thing we should note is that CHFJPY 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. Or to simplify this another way, note that out of the past 14 days CHFJPY’s price has gone up 10 them.