CHFJPY Down 0 Pips in Last Hour, Crosses 20 Day Moving Average; Pin Bar Pattern Appearing on Chart

Hourly Update

(Last Updated September 8, 2021 12:16 GMT)

At the time of this writing, CHFJPY’s rate is down -30 pips (0%) from the hour prior. It’s been a feast for bears operating on an hourly timeframe, as CHFJPY has now gone down 5 of the past 5 hours. As for the trend on the hourly timeframe, we see the clearest trend on the 100 hour timeframe. Price action traders may also wish to note that we see a pin bar candlestick pattern on CHFJPY. Given that we see downtrend on the 20 and 10 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 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 entered today at 119.941, down 8 pips (0.06%) from the day prior. Compared to its peers in the Forex, CHFJPY gave its buyers a return that ranked 26th in terms of percentage change since the day prior. Here is a price chart of CHFJPY.

CHFJPY

CHFJPY Technical Analysis

Notably, CHFJPY crossed below its 20 day moving average 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 20 day average, which is 1.7 pips away. Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving down. For additional context, note that price has gone up 15 out of the past 30 days. And for candlestick traders, a special treat: there is a pin bar pattern showing up on the charts as well. Rejoice!