CHF/JPY Up 12 Pips in Last Hour, in an Uptrend Over Past 30 Days; Nears 20 Day Moving Average

Hourly Update

(Last Updated June 16, 2022 1:39 GMT)

Currently, CHFJPY’s rate is up 1220 pips (0.09%) from the hour prior. It’s been a feast for bulls operating on an hourly timeframe, as CHFJPY has now gone up 4 of the past 5 hours. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 100 hour timeframe. Price action traders may also wish to note that we see a doji candlestick pattern on CHFJPY. Given that we see an uptrend on the 10 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. The moving averages on the hourly timeframe suggest a choppiness in price, as the are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.

CHFJPY End of Day Recap

Updated 00:30 GMT (04:30 EST)

CHFJPY entered today at 134.84, down 78 pips (0.58%) from yesterday. Compared to its peers in the Forex, CHFJPY gave its buyers a return that ranked 30th in terms of percentage change since yesterday. Below is a price chart of CHFJPY.

CHFJPY

CHFJPY Technical Analysis

Coming into today the current price of CHFJPY 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. Volatility for CHFJPY has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. 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. For additional context, note that price has gone up 11 out of the past 14 days.