CHF/JPY Up 16 Pips Over Past Hour, 2 Day Up Streak Snapped; in an Uptrend Over Past 90 Days

Hourly Update

(Last Updated May 2, 2022 1:37 GMT)

At the time of this writing, CHFJPY’s rate is up 1550 pips (0.12%) from the hour prior. This move is a reversal from the hour prior, which saw price move down. Regarding the trend, note that the strongest trend exists on the 20 hour timeframe. Price action traders may also wish to note that we see a doji candlestick pattern on CHFJPY. Given that we see downtrend on the 20 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)

The back and forth price flow continues for CHFJPY, which started today off at 133.356, down 136 pips 1.01% from the previous day. Out of the 39 instruments in the Forex asset class, CHFJPY ended up ranking 34th for the day in terms of price change. Here is a price chart of CHFJPY.

CHFJPY

CHFJPY Technical Analysis

Notably, CHFJPY crossed below its 20 day moving average yesterday. 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 down 9 out of the past 14 days.