CHFJPY Down 3 Pips in Last Hour, Moves Down For the 4th Straight Day; Breaks Below 20 Day Average

Hourly Update

(Last Updated April 23, 2021 2:17 GMT)

At the moment, CHFJPY’s rate is down -340 pips (-0.03%) from the hour prior. CHFJPY has seen its price go down 4 out of the past 5 hours, thus creating some compelling opportunities for bears. As for the trend on the hourly timeframe, we see the clearest trend on the 100 hour timeframe. 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 12 pips (0.1%) since the day prior (opening today near 117.711), marking the 4th straight day a decline has happened. Out of the 39 instruments in the Forex asset class, CHFJPY ended up ranking 21st for the day in terms of price change. Below is a price chart of CHFJPY.

CHFJPY

CHFJPY Technical Analysis

First things first: CHFJPY crossed below its 20 day moving average yesterday. 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. The clearest trend exists on the 30 day timeframe, which shows price moving up over that time. Or to simplify this another way, note that out of the past 30 days CHFJPY’s price has gone up 15 them.

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.

Just make a short position and earn a lot…. a very big target will achieve soon….