(Last Updated August 27, 2021 1:16 GMT)
At the moment, CHFJPY’s rate is down -370 pips (-0.03%) from the hour prior. This is the 2nd consecutive hour CHFJPY has seen its price head down. As for the trend on the hourly timeframe, we see the clearest trend on the 50 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)
The choppiness in the recent daily price action of CHFJPY continues; to start today, it came in at a price of 120.371, up 22 pips (0.19%) since the previous day. Relative to other instruments in the Forex asset class, CHFJPY ranked 19th the previous day in terms of percentage price change. Here is a price chart of CHFJPY.
CHFJPY Technical Analysis
First things first: CHFJPY crossed above its 20, 50 and 100 day moving averages 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 100 day average, which is 10.1 pips away. It should be noted, though, the 20 day simple moving average turned downwards, which may be a bearish sign. Also of note is that on the 30 and 90 day bases price appears to be forming a base — which could the stage for it being a support/resistance level going forward. Or to simplify this another way, note that out of the past 14 days CHFJPY’s price has gone down 7 them.