(Last Updated October 8, 2020 2:16 GMT)
At the moment, CHFJPY’s rate is up 700 pips (0.06%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved down. Regarding the trend, note that the strongest trend exists on the 100 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 115.43, up 43 pips (0.37%) from the day prior. Compared to its peers in the Forex, CHFJPY gave its buyers a return that ranked 13th in terms of percentage change since the day prior. Let’s take a look at price chart of CHFJPY.
CHFJPY Technical Analysis
Moving average crossovers are always interesting, so let’s start there: CHFJPY crossed above its 20 day moving average yesterday. 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 50 day average, which is 37.1 pips away. The clearest trend exists on the 30 day timeframe, which shows price moving down over that time. Interestingly, a trend in the other direction exists on the 90 day timeframe, where price is headed up. For additional context, note that price has gone down 9 out of the past 14 days.