CHF/JPY Down 19 Pips On 4 Hour Chart, 2 Day Up Streak Broken; in an Uptrend Over Past 14 Days

CHF/JPY 4 Hour Price Update

Updated July 31, 2020 05:09 AM GMT (01:09 AM EST)

CHF/JPY is down 19 pips (0.16%) since the previous 4 hours (opening the current 4 hour candle near 115.018), marking the 2nd candle in a row a decrease has occurred. Out of the 37 instruments in the Forex asset class, CHF/JPY ended up ranking 26th for the four-hour candle in terms of price change.

CHF/JPY End of Day Recap

Updated 00:30 GMT (04:30 EST)

The back and forth price flow continues for CHF/JPY, which started today off at 115.199, down 1 pips 0.01% from yesterday. Compared to its peers in the Forex, CHF/JPY gave its buyers a return that ranked 28th in terms of percentage change since yesterday. Here is a price chart of CHF/JPY.

CHF/JPY

CHF/JPY Technical Analysis

Coming into today the current price of CHF/JPY is sitting close to its 20 and 50 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. As for the alignment of the moving averages, well, it’s a bit mixed up; the 20, 50, 100, and 200 do not progress from largest to smallest, or vice versa. The closest is the 20 day average, which is 79.7 pips away. The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. For additional context, note that price has gone up 19 out of the past 30 days. And for candlestick traders, a special treat: there is a pin bar pattern showing up on the charts as well. Rejoice!

The View From Around the Web

We’re seeing some traders come out with interesting conviction on CHFJPY, with 9 buy signals on our radar and 6 sell signals. This imputes a buy/sell ratio of 1.5, which is bullish. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

Price has managed to retrace for me to post a trade that I have entered yesterday.Indicator shows 2 green bar means potential trend continuation. Lets get it.As always, please use low risk and scale out your positions.Regards,Pcube