CHFJPY Down 6 Pips On Hourly Chart, Came Into Today Down For the 4th Straight Day; Eyes 20 Day Average

Hourly Update

(Last Updated January 15, 2021 3:18 GMT)

Currently, CHFJPY’s rate is down -610 pips (-0.05%) from the hour prior. The hourly chart shows that CHFJPY has seen 2 straight down hours. Regarding the trend, note that the strongest trend 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 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 bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.

CHFJPY End of Day Recap

Updated 00:30 GMT (04:30 EST)

CHFJPY is down 15 pips (0.13%) since the day prior (opening today near 116.853), marking the 4th straight day it has gone down. Compared to its peers in the Forex, CHFJPY gave its buyers a return that ranked 27th in terms of percentage change since the day prior. Here is a price chart of CHFJPY.

CHFJPY

CHFJPY Technical Analysis

Coming into today CHFJPY is now close to its 20, 50, 100 and 200 day averages, located at 116.8327, 115.9817, 115.6782 and 114.353 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. For additional context, note that price has gone down 17 out of the past 30 days.

The View From Around the Web

Not much in terms quality buy/sell signals we’re seeing for CHFJPY; just 2 sell signals and 0 buy signals. This imputes a buy/sell ratio of 0, which is quite bearish. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

Market structure on a (daily) is very bearish. Price is making his way to our support zone.