CHF/JPY Up 27 Pips On Hourly Chart, Came Into Today Down For the 10th Day In A Row; Breaks Below 100 Day Average

Hourly Update

(Last Updated May 13, 2022 1:38 GMT)

At the moment, CHFJPY’s rate is up 2700 pips (0.21%) from the hour prior. The hourly chart shows that CHFJPY has seen 2 straight up hours. 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 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)

CHFJPY is down 268 pips (2.05%) since the day prior (opening today near 127.905), marking the 10th day in a row it has gone down. Relative to other instruments in the Forex asset class, CHFJPY ranked 37th the day prior in terms of percentage price change. Here is a price chart of CHFJPY.

CHFJPY

CHFJPY Technical Analysis

Notably, CHFJPY crossed below its 100 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. Interestingly, a trend in the other direction exists on the 14 day timeframe, where price is headed down. For additional context, note that price has gone down 10 out of the past 10 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.

Pair Name : CHF/JPYTime Frame : 4hrs Scale Type : Large Scale Analysis Way : Volume + Classic + High & low + Market Map Direction : / Short➕ Educational —————**-✔️ Update – VIP Opportunity ————Down + 250 PIP.Target Hit ( 4 )+ 20 % Account GrowthGood luck