(Last Updated November 20, 2020 2:16 GMT)
Currently, CHFJPY’s rate is up 710 pips (0.06%) from the hour prior. This is the 2nd hour in a row CHFJPY has seen its price head up. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 100 hour timeframe. Regarding moving averages, it should first be noted that price has crossed the 50 hour moving average, resulting in them so that price is now turning above it. 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)
After 4 down days, CHFJPY snaps its streak, rising 11 pips (0.1%) over the past day to close at an exchange rate of 113.921. Compared to its peers in the Forex, CHFJPY gave its buyers a return that ranked 12th in terms of percentage change since the day prior. Here is a price chart of CHFJPY.
CHFJPY Technical Analysis
The first thing we should note is that CHFJPY is now close to its 20, 50, 100 and 200 day moving averages, which may act as price barrier for the asset. 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 200 day average, which is 34.6 pips away. The clearest trend exists on the 30 day timeframe, which shows price moving down over that time. Or to simplify this another way, note that out of the past 30 days CHFJPY’s price has gone down 18 them.