(Last Updated February 16, 2021 23:17 GMT)
At the moment, CHFJPY’s rate is up 330 pips (0.03%) from the hour prior. CHFJPY has seen its price go up 8 out of the past 10 hours, thus creating some compelling opportunities for bulls. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 50 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 entered today at 118.411, up 78 pips (0.66%) from yesterday. Out of the 39 instruments in the Forex asset class, CHFJPY ended up ranking 6th for the day in terms of price change. Let’s take a look at price chart of CHFJPY.
CHFJPY Technical Analysis
Coming into today CHFJPY is now close to its 20, 50 and 100 day averages, located at 117.1753, 117.0198 and 116.0057 respectively, and thus may be at a key juncture along those timeframes. The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. Or to simplify this another way, note that out of the past 14 days CHFJPY’s price has gone up 8 them.