CHF/JPY Up 1 Pips in Last 4 Hours, Came Into Today Up For the 3rd Day In A Row; Nears 20 Day Moving Average

CHF/JPY 4 Hour Price Update

Updated May 19, 2020 05:11 PM GMT (01:11 PM EST)

CHF/JPY is up 1 pips (0.01%) since the previous 4 hours (opening the current 4 hour candle near 110.917), marking the 3rd candle in a row an upward move has occurred. Relative to other instruments in the Forex asset class, CHF/JPY ranked 21st the previous 4 hours in terms of percentage price change.

CHF/JPY End of Day Recap

Updated 00:30 GMT (04:30 EST)

CHF/JPY is up 3 pips (0.03%) since the day prior (opening today near 110.499), marking the 3rd day in a row it has gone up. Relative to other instruments in the Forex asset class, CHF/JPY ranked 22nd the day prior in terms of percentage price change. Let’s take a look at 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. 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 38.1 pips away. Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving down. For additional context, note that price has gone up 7 out of the past 10 days. And for candlestick traders, a special treat: there are doji and pin bar patterns 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 3 buy signals on our radar and 6 sell signals. This imputes a buy/sell ratio of 0.5, which is bearish. As for the rationale, technical traders seem to be citing the appearance of channel and fibonacci technical patterns. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

ascending triangle pattern which is a bullish continuantion.